Benchmark asserts that Bitdeer's 20% drop is 'an overreaction,' setting a target of $22 for BTDR.

BTDR · Bitdeer Technologies Group

The AI's read

Bitdeer plunged more than 20% after announcing a $1 billion shelf registration, spooking investors about dilution. Benchmark calls the selloff an overreaction and reiterates a $22 target while highlighting strong Q2 revenue and massive EBITDA growth. The market move looks priced for fear, not fundamentals. BTDR is at $8.69 with RSI 56 and a $22 target implying large upside versus current price. We lean bullish because mining cash flow funded the $4.7bn AI deal and analysts argue dilution can be managed with project-level financing. Position size should be small and risk managed given the choppy market regime.