This report is part of our Trading Signals publication and is available to Trading Signals subscribers. Market Updates subscribers can add Trading Signals as a separate subscription.
Please contact us at [email protected] to activate access.
+30% in 30 Days: Bitdeer Delivers on Our March Buy Signal
On March 18, 10x Research Trading Signals flagged Bitdeer (BTDR) as a buy. One month later, the stock is up 30%, and the structural case remains intact.
Bitdeer is one of the few publicly listed Bitcoin miners with a credible path beyond pure hashrate exposure. The company is developing its own ASIC chip line (the Sealminer series), which, if it reaches commercial scale, would compress its hardware cost curve and reduce reliance on third-party suppliers like Bitmain. That vertical integration story is rare among listed miners and justifies a premium to the sector.
The broader setup is also constructive: Bitcoin's resilience above key levels supports miner margins, and any move higher in BTC disproportionately benefits operators with efficient rigs and low power costs. Bitdeer has been expanding its low-cost energy footprint across multiple geographies, which provides a degree of margin insulation peers lack.
The 30% move since our call reflects the market beginning to price in this differentiation. Whether that re-rating has further to run depends on execution, specifically, Sealminer chip delivery timelines and Bitcoin's next directional move. As this 1-month signal comes to an end, we are awaiting new trading signals from our models.
A +30% return on even a modest position in Bitdeer would have covered the cost of a full year of Trading Signals many times over.
Premium subscribers will receive the next call the moment it triggers, upgrade https://signal.10xresearch.com/upgrade to make sure you don't miss it.
Licensed to: {{email}} Confidential – Licensed for the exclusive use of the recipient. Redistribution, forwarding, copying, or publication without prior written permission from 10x Research is strictly prohibited and may result in termination of the subscription.
Disclaimer: This email and any attached research are for informational purposes only and do not constitute investment advice, financial advice, or a recommendation to buy or sell any assets. 10x Research does not provide personalized investment advice and is not registered as a broker-dealer or investment adviser. Views are the authors’ own and subject to change. Please consult a qualified professional before making financial decisions. ©10x Research.
