On August 12, Bitdeer Technologies Group rose 8.84% in regular trading, trading at $9.195/share, with turnover of $10.37 million.

On the news front, the stock staged a recovery bounce after plunging over 20% on August 10 following its Q2 earnings release. The Q2 report showed adjusted loss per share of $2.08, far exceeding the consensus estimate of $0.36 loss by 477.78%. Revenue came in at $228.8 million, up 47% year-over-year but slightly below some estimates of $235.9 million. However, GAAP net loss of $0.37 per share was better than the FactSet estimate of $0.42 loss.

The broader crypto mining sector rallied simultaneously, with peer IREN up 8.23% and Riot Platforms up 3.21%, providing a favorable backdrop for the rebound. Notably, Cantor Fitzgerald upgraded Bitdeer to Overweight on August 5 with a $15 price target, and the company recently secured a $4.7 billion data center contract in Norway backed by $1.3 billion in credit support from JP Morgan affiliates.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)