Bitdeer Technologies Group (NASDAQ:BTDR) shares are up during Monday’s premarket session as the company is finalizing development of Norway’s largest AI data center.
Details
Bitdeer announced that its subsidiary, Tydal Data Center AS, has engaged Data Center Installations AS to develop a facility primarily for the colocation of Nvidia Corporation’s (NASDAQ:NVDA) Vera Rubin AI technology.
The project is set to deliver 180 MW of gross installed capacity and is expected to be completed by December 2026.
The Tydal facility aims to become Norway’s largest operational AI data center, enhancing Bitdeer’s position in the rapidly growing AI infrastructure market.
This strategic move aligns with the company’s goal to meet the increasing demand for AI data centers globally.
Haakon Bryhni, Chairman and co-founder of TDC, said, “By transforming our existing footprint to large AI deployments, TDC will be at the forefront of the AI revolution while maintaining sustainable, capital-efficient growth and substantial local value creation. DCI’s track record shows its ability to deliver according to our high execution standards.”
February Performance Update
This month, the company released its February 2026 update. The company said Bitcoin (CRYPTO: BTC/USD) production increased 541% year over year to 705 Bitcoin.
Meanwhile, its AI Cloud business is showing strong month-on-month performance in ARR and utilization rates. The company also highlighted an ongoing push to secure colocation lease agreements, keeping that segment in focus alongside self-mining.
Technical Analysis
The stock is currently trading 6.6% above its 20-day simple moving average (SMA) but is 16.3% below its 50-day SMA, indicating some short-term strength while struggling in the longer term. Over the past 12 months, shares have decreased by 5.21% and are currently positioned closer to their 52-week lows than highs.
The RSI is at 45.79, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold. Meanwhile, MACD shows a value of -0.3027, with the signal line at -0.5112, indicating bullish momentum as the MACD is above its signal line.
The combination of neutral RSI and bullish MACD suggests mixed momentum for the stock.
- Key Resistance: $9.50
- Key Support: $7.00
Earnings & Analyst Outlook
Bitdeer is slated to provide its next financial update on May 14, 2026 (estimated).
- EPS Estimate: Loss of 29 cents (Up from Loss of 39 cents)
- Revenue Estimate: $208.70 million (Up from $70.13 million)
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $25.42. Recent analyst moves include:
- Rosenblatt: Buy (Maintains Target to $18.00) (Mar. 18)
- Rosenblatt: Buy (Maintains Target to $18.00) (Feb. 13)
- Needham: Buy (Lowers Target to $22.00) (Feb. 13)
Benzinga Edge Rankings
Below is the Benzinga Edge scorecard for Bitdeer, highlighting its strengths and weaknesses compared to the broader market:
- Value: 66.72 — The stock is performing moderately well in terms of value metrics.
- Momentum: 6.72 — This indicates weak momentum, suggesting the stock is underperforming relative to the market.
The Verdict: Bitdeer’s Benzinga Edge signal reveals a mixed profile, with solid value metrics but weak momentum, indicating potential challenges in gaining traction in the current market environment.
BTDR Stock Price Activity: Bitdeer Technologies shares were up 2.75% at $8.60 during premarket trading on Monday, according to Benzinga Pro data.
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