Cryptocurrencies have surged into mainstream finance faster than anticipated. While no unified regulations govern the sector yet, investors and companies alike are wagering big on its explosive growth. Retail investors can join the action too, by buying shares in firms that mine digital assets or those holding them to bolster their balance sheets.
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Using TipRanks’ tools, we have identified three stocks with “Strong Buy” ratings from analysts and more than 100% upside potential over the next twelve months.
Canaan (CAN) – Singapore-based Canaan specializes in designing ASIC high-performance computing (HPC) chips, advancing chip R&D, manufacturing computing equipment, and providing software services. Over the last three months, four Wall Street analysts covering CAN stock rated it a Buy, while one rated it a Hold. Combined, their 12-month average Canaan price target indicates an upside of about 374%.
HIVE Digital (HIVE) – HIVE Digital is a Canada-based Bitcoin mining company that powers its operations with renewable energy in Canada, Sweden, and Paraguay. It also specializes in building advanced data centers and high-performance computing (HPC) infrastructure. In the last three months, seven Wall Street analysts covering HIVE stock rated it a Buy, with one assigning a Hold rating. Their 12-month average HIVE Digital price target indicates an upside of more than 180%.
Strategy (MSTR) – Strategy is a AI-powered business intelligence software provider but it has shifted focus to becoming a Bitcoin (BTC-USD) Treasury company. Over the last three months, all 12 Wall Street analysts covering MSTR stock rated it a Strong Buy. Together, their 12-month average Strategy price target indicates an upside of nearly 115%.