Bitdeer Technologies’ stock surged 30% to $27, hitting an all-time high due to increased mining output and AI data-center plans. Bitcoin’s stability near $110,000 added fuel to the rally, with the combined market cap of listed miners now exceeding $90 billion.

Bitdeer mined 452 BTC in September, a 20.5% increase from August, with a self-mining hashrate of 35 exahashes per second. The company aims for 40 EH/s by October’s end with new SEALMINER A2 and A3 rigs. Bitdeer plans to dedicate over 200 MW of capacity to AI computing by 2026.

Wall Street is bullish on Bitdeer, with Cantor Fitzgerald setting a price target of $50. The company’s AI cloud service generates $8 million in recurring revenue at 86% GPU utilization. Despite challenges in the sector, investors see Bitdeer as a rare dual-engine growth story in the digital infrastructure boom.

The mining sector rally extended to Marathon Digital, Riot Platforms, and CleanSpark, all trading near 52-week highs. Applied Digital, Hut 8, Cipher Mining, and Canaan Technologies also saw gains, reflecting renewed enthusiasm for GPU infrastructure plays. The sector is poised for growth driven by diversification and scale.

Institutional funds are rotating into digital infrastructure equities, boosting confidence in vertically integrated miners like Bitdeer. The combined market capitalization of major public miners has surpassed $90 billion, signaling a new phase of growth in the mining sector.

Read more at Yahoo Finance: Bitdeer Jumps 30% to All-Time High on AI Expansion