Barclays initiates Bitdeer Technologies at Overweight with $15 price target, citing AI infrastructure pivot

Barclays has launched coverage of Bitdeer Technologies Group with an Overweight rating and a $15 price target, making it the latest Wall Street firm to endorse the Bitcoin miner’s aggressive push into artificial intelligence and high-performance computing infrastructure. With Bitdeer shares trading around $9.63 at the time of the initiation, the price target implies roughly 56% upside. For a stock that’s been hammered nearly 40% since late June, that’s the kind of analyst conviction that tends to get attention. Why Barclays is bullish on a Bitcoin miner The core thesis isn’t really about Bitcoin mining anymore. Barclays is focused on Bitdeer’s strategic repositioning toward AI and HPC infrastructure, anchored by the company’s approximately 3 GW of powered land assets. Earlier this month, on August 4, Bitdeer announced a landmark 16-year, $4.7 billion colocation lease covering 121 MW of AI and HPC capacity at its facility in Tydal, Norway. Revenue from that deal is expected to start flowing in early Q1 2027. Bitdeer’s Q2 2026 revenue came in at $228.8 million, a 47% jump year-over-year. Wall Street’s growing consensus Barclays isn’t alone in its bullish stance. Cantor Fitzgerald has...