The cryptocurrency sector has entered the mainstream financing sector at a faster pace than expected. Although there is no single, unified law regulating cryptocurrencies, both investors and companies are making big bets on the sector’s growth potential. Retail investors can also take advantage of the potential boom in the sector by investing in companies that mine digital assets or simply buy them and bulk up their treasuries.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Using TipRanks’ tools, we have identified three stocks with Strong Buy ratings from analysts and significant upside potential in the next twelve months.
Here are this week’s stocks:
HIVE Digital Technologies (HIVE) – HIVE Digital is a Canadian Bitcoin mining company with renewable energy-powered operations in Canada, Sweden, and Paraguay. The company also specializes in building advanced data centers and high-performance computing (HPC) infrastructure projects. In the last three months, all six Wall Street analysts covering HIVE stock have rated it a Strong Buy, with their 12-month average HIVE Digital price target indicating an upside of about 296%. However, HIVE stock has lost 33.3% year-to-date.
Bitfarms (BITF) – Bitfarms, another Canadian bitcoin mining company, is transitioning its focus to building and managing data center infrastructure for HPC and AI. Over the last three months, all four Wall Street analysts covering BITF stock rated it a Strong Buy. Combined, their 12-month average Bitfarms price target indicates an upside of about 282%. Unfortunately, BITF stock has also lost nearly 43% year-to-date.
CleanSpark (CLSK) – CleanSpark is an American Bitcoin mining company that uses a sustainable energy mix, including nuclear, hydroelectric, solar, and wind, to power its mining operations. The company owns and operates data centers that run on low-carbon power. In the last three months, all seven Wall Street analysts covering CLSK stock have rated it a Strong Buy, with their 12-month average CleanSpark price target indicating an upside of nearly 102%. Notably, CLSK stock has gained 4.5% year-to-date.
View real-time prices of various cryptocurrencies, discover the latest happenings in the sector, and research crypto-related stocks on the TipRanks’ Cryptocurrency page.