10 Best Blockchain Stocks to Buy According to Analysts

7. Core Scientific Inc. (NASDAQ:CORZ)

Average Price Target Upside Potential According to Analysts: 54.85%

Number of Hedge Fund Holders: 58

Core Scientific Inc. (NASDAQ:CORZ) is a leading company in the digital infrastructure space, specializing in Bitcoin mining and high-performance computing (HPC). The company operates data centers across the US where it mines Bitcoin for its own account and also offers hosting services for other Bitcoin mining customers. Core Scientific Inc. (NASDAQ:CORZ) is also looking to allocate and convert a portion of its data centers to support AI-related workloads and deliver hosting services for high-performance computing.

The company is actively looking to grow its HPC business, both in terms of contracted power and total capacity. As of November 2024, Core Scientific Inc. (NASDAQ:CORZ) had contracted about 500 megawatts of critical IT load to host high-performance computing, which is expected to generate $8.7 billion over the life of the contracts. The company also reallocated 100 megawatts of infrastructure from Bitcoin mining to its HPC business. This move increased Core Scientific Inc.’s (NASDAQ:CORZ) total HPC hosting capacity to 800 megawatts.

Additionally, the company expanded its infrastructure by acquiring a new data center in Alabama with 11 megawatts of critical IT load and the potential for expansion to 66 megawatts. At the same time, Core Scientific Inc. (NASDAQ:CORZ) is looking to strengthen its Bitcoin mining business and completed a 100-megawatt expansion at its Pecos, Texas Bitcoin mining data center.