Why Is Bitdeer Stock Falling Thursday?

Bitdeer Technologies Group (NASDAQ:BTDR) stock fell Thursday as the company announced plans for a private placement of $300 million in convertible senior notes.

The company intends to use the proceeds for datacenter expansion and other corporate purposes.

Bitdeer plans to offer $300 million in principal amount of convertible senior notes due 2032, with the option for initial purchasers to buy an additional $45 million.

The notes will be unsecured obligations of Bitdeer and will accrue interest payable semiannually, with the company expecting to use the net proceeds for various expansions and working capital.

Additionally, the company aims to offset potential dilution of its shares through capped call transactions related to the notes. This strategic move highlights Bitdeer’s focus on enhancing its infrastructure and capabilities in the digital asset mining space.

Technical Analysis

Currently, Bitdeer is trading 35.3% below its 20-day simple moving average (SMA) and 46.2% below its 100-day SMA, indicating a bearish trend. Shares have decreased 45.81% over the past 12 months and are positioned closer to their 52-week lows than highs, reflecting ongoing challenges in the stock’s performance.

The RSI is at 34.63, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold at this time. Meanwhile, the MACD shows a value of -0.7676, below its signal line at -0.3325, indicating bearish pressure on the stock.

The combination of neutral RSI and bearish MACD suggests mixed momentum, indicating that traders should remain cautious.

• Key Resistance: $8.50
• Key Support: $7.00

Earnings & Analyst Outlook

Bitdeer Technologies Group is slated to provide its next financial update on May 14, 2026.

• EPS Estimate: Loss of 19 cents (up from Loss of 39 cents)
• Revenue Estimate: $207.87 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) (Feb. 13)
• Needham: Buy (Lowers Target to $22.00) (Feb. 13)
• HC Wainwright & Co.: Buy (Lowers Target to $25.00) (Feb. 12)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Bitdeer Technologies, highlighting its strengths and weaknesses compared to the broader market:

• Momentum: Weak (Score: 7.08) — Stock is underperforming the broader market.

The Verdict: Bitdeer Technologies Group’s Benzinga Edge signal reveals a classic ‘Weak’ setup. While the Momentum score indicates the stock is struggling, the company’s strategic moves may provide a pathway for recovery.

BTDR Price Action: Bitdeer Technologies shares were down 16.08% at $8.23 at the time of publication on Thursday.

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