Bitdeer Shifts Focus to AI, Leases Norway Campus

Bitdeer Technologies Group has taken a significant step in its business strategy by selling all of its Bitcoin holdings and signing a $4.7 billion lease to convert its Tydal, Norway campus into an AI and high-performance computing data center powered by Nvidia GPUs.

The company, listed on the Nasdaq stock exchange, still maintains a strong Bitcoin mining hash rate but is focusing on expanding its AI infrastructure footprint across the US, Southeast Asia, and Norway.

Analysts, including Benchmark's Mark Palmer, see significant upside for Bitdeer’s Nasdaq stock, with price targets ranging from $22 to $38, implying up to 150% gains from current levels around $10-$11.