The cryptocurrency sector has entered mainstream financing at a faster pace than expected. Although there is no single, unified law regulating cryptocurrencies, both investors and companies are making significant 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 in companies that simply buy them to strengthen their treasuries.
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Using TipRanks’ tools, we have identified three stocks with “Strong Buy” ratings from analysts and massive upside potential over the next twelve months.
Here are this week’s stocks:
Cipher Mining (CIFR) – Cipher Mining is an industrial-scale Bitcoin mining company that aims to expand and strengthen the Bitcoin network’s critical infrastructure in the U.S. It owns and operates five data centers across the U.S. Over the past three months, nine Top Analysts covering CIFR stock rated it a Buy, while one analyst rated it a Hold. Combined, their 12-month average Cipher Mining price target implies an upside of about 38%. Meanwhile, CIFR stock has already gained 12.3% so far this year.
Bitdeer Technologies (BTDR) – Bitdeer Technologies is a Singapore-based cryptocurrency-mining platform with operations in the U.S., Norway, and Bhutan. It offers blockchain and high-performance computing (HPC) solutions. In the last three months, all eight Top Analysts covering BTDR stock rated it a Buy. Taken together, their 12-month average Bitdeer price target implies an upside of about 55%. However, BTDR stock has lost 38.2% so far this year.
Riot Platforms (RIOT) – Riot Platforms is a bitcoin mining and digital infrastructure company. It operates large-scale bitcoin mining facilities primarily in central Texas and Kentucky, along with electrical engineering and fabrication operations across various U.S. states. Over the past three months, nine Top Analysts covering RIOT stock rated it a Buy, while three analysts rated it a Hold. Combined, their 12-month average Riot Platforms price target implies an upside of about 61%. Notably, RIOT stock has gained 11% so far this year.
Who Are the Top Analysts?
TipRanks ranks financial analysts according to the success rates of their ratings and the average return on each of their ratings. The Top Analysts have each earned a five-star ranking, thanks to the accuracy and profitability of their ratings over time.
See real-time analyst rankings and learn more about the performance of Top Analysts on TipRanks’ Top Wall Street Analysts page.