10 Best Blockchain Stocks to Buy According to Analysts

6. IREN Limited (NASDAQ:IREN)

Average Price Target Upside Potential According to Analysts: 66.34%

Number of Hedge Fund Holders: 28

IREN Limited (NASDAQ:IREN) is an Australian company that owns and operates next-generation data centers that are optimized for Bitcoin mining, AI cloud services, and high-performance and power-dense computing applications. According to analysts, IREN Limited (NASDAQ:IREN) is one of the best blockchain stocks to buy.

The company is focused on enhancing its Bitcoin mining operations. In December 2024, IREN Limited (NASDAQ:IREN) reported that it reached its year-end target of 31 EH/s installed self-mining capacity, exceeding its original goal of 20 EH/s. The company is on track for 50 EH/s in the first half of 2025.

Additionally, the company is diversifying into the growing AI and high-performance computing (HPC) markets. As of November 2024, IREN Limited (NASDAQ:IREN) had already installed more than 1,800 GPUs, including both NVIDIA H100 & H200 GPUs, in response to customer demand. IREN Limited (NASDAQ:IREN) is also installing liquid cooling infrastructure at its Childress and Prince George sites to support NVIDIA Blackwell GPUs and further enhance its competitive advantage.