Benchmark analyst Mark Palmer sets a $38 price target on Bitdeer as the miner liquidates all Bitcoin and signs a $4.7B AI data-center lease in

Bitdeer mined 2,694 BTC in Q2, nearly five times its year-earlier output, while its corporate Bitcoin holdings fell 90% to 150 BTC.

The company is focused increasingly focused on becoming a provider of AI infrastructure, expanding beyond its core bitcoin mining business.