A Wall Street investment bank, Cantor Fitzgerald, believes that the market is underestimating Bitdeer (BTDR), a Singapore-based Bitcoin mining company ¹. The company's stock has seen a significant increase of 50% this month. Cantor Fitzgerald's equity research report states that Bitdeer's current price does not reflect its potential for hash rate growth, making it the most undervalued mining company covered by the bank. The report suggests that Bitdeer has the capacity to increase its hash rate by more than four times.

As of May 2024, Bitdeer's total hash rate across its self-mining, cloud mining, and hosting services is 22.5 exahashes per second (EH/s). The company plans to add 1,079 megawatts of power to its global data centers, which is expected to increase its hash rate by 59.5 EH/s. This would make Bitdeer one of the largest publicly traded mining firms, surpassing Marathon Digital's (MARA) expected year-end hash rate of 50 EH/s.

Bitdeer's growth potential is attributed to its strategic expansion plans, including the addition of new data centers and the increase of its hash rate capacity. The company's focus on operational efficiency, revenue growth, and technological advancement positions it for future success. Bitdeer's partnership with NVIDIA Corporation and its launch of Bitdeer AI Cloud, a high-performance cloud service platform, are also expected to contribute to its growth.

The report highlights the potential of Bitdeer's stock, which is currently undervalued by the market. The company's growth prospects, combined with its current low valuation, make it an attractive investment opportunity. As the Bitcoin mining industry continues to evolve, Bitdeer's strategic position and growth potential make it a company to watch.

In conclusion, Cantor Fitzgerald's report highlights the potential of Bitdeer's stock, which is currently undervalued by the market. The company's growth prospects, combined with its current low valuation, make it an attractive investment opportunity. As the Bitcoin mining industry continues to evolve, Bitdeer's strategic position and growth potential make it a company to watch. The report suggests that investors should consider Bitdeer's potential for growth and its current undervaluation, making it a promising investment opportunity in the Bitcoin mining industry.