Bitdeer Technologies Group (NASDAQ:BTDR) is one of the 10 Stocks Outperforming Wall Street With Monster Returns.
Bitdeer Technologies rallied for a 5th straight session on Wednesday, climbing 20.99 percent to close at $15.10 apiece, as investors resumed buying positions ahead of the results of its earnings performance for the first quarter of the year.
In a notice to investors, Bitdeer Technologies Group (NASDAQ:BTDR) said that it is scheduled to report its financial and operating highlights before market open on Thursday, May 14, to be followed by a conference call to elaborate on the results.
For illustration purposes only. Photo from Unsplash
The rally was supported by news earlier this month that March was a pivotal milestone for the company, driven by accelerating demand from AI customers, with its cloud business achieving approximately $43 million in annual recurring revenues, or 105 percent higher than in February.
“This momentum underscores both the scale of the market opportunity and our ability to execute effectively in delivering high-performance AI infrastructure,” Bitdeer Technologies Group (NASDAQ:BTDR) Chief Business Officer Matt Kong said.
“Looking ahead, we remain confident that demand for AI infrastructure will continue to grow. With our expanding capacity, proven execution, and clear strategic direction, we expect our AI cloud revenue to further accelerate in the coming months,” he noted.
AI aside, Bitdeer Technologies Group (NASDAQ:BTDR) self-mined 661 Bitcoins in March, an increase of approximately 480 percent year-on-year, thanks to a higher hash rate of around 70 EH/s.
While we acknowledge the potential of BTDR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.
Disclosure: None. Follow Insider Monkey on Google News.
