10 Best Blockchain Stocks to Buy According to Analysts

5. Bit Digital Inc. (NASDAQ:BTBT)

Average Price Target Upside Potential According to Analysts: 90.48%

Number of Hedge Fund Holders: 6

Bit Digital Inc. (NASDAQ:BTBT) is a global platform for digital asset production and high-performance computing (HPC) infrastructure. The company has operations in the US, Canada, and Iceland. While the company is primarily known for its large-scale Bitcoin mining operations, it also provides infrastructure services for AI applications. Bit Digital Inc. (NASDAQ:BTBT) introduced ETH staking to power the Ethereum blockchain. BTBT is one of the best blockchain stocks to buy according to analysts.

The company is primarily focused on growing its HPC business through acquisitions and partnerships. In October 2024, Bit Digital Inc. (NASDAQ:BTBT) acquired Enovum Data Centers for CAD $62.8 million. This move integrates the company’s HPC operations with a fully operational and leased Tier-3 data center in Montreal.

In December 2024, Bit Digital Inc. (NASDAQ:BTBT) expanded further by acquiring the real estate and building for a build-to-suit 5MW Tier-3 data center expansion project in Montreal. This transaction is part of the company’s plan to expand its HPC data center footprint to 32 megawatts by the end of 2025.