10 Best Blockchain Stocks to Buy According to Analysts

3. CleanSpark Inc. (NASDAQ:CLSK)

Average Price Target Upside Potential According to Analysts: 139.46%

Number of Hedge Fund Holders: 16

CleanSpark Inc. (NASDAQ:CLSK) is an American Bitcoin mining company that plays a key role in the Bitcoin blockchain network by validating transactions and securing the network through mining activities. The company owns and operates a portfolio of mining facilities across the US. CLSK ranks among the best blockchain stocks to buy according to analysts.

The company is focused on accelerating growth through strategic acquisitions. In September 2024, CleanSpark Inc. (NASDAQ:CLSK) acquired 2 Bitcoin mining sites and associated land in Mississippi for a combined purchase price of $5.775 million. This acquisition will support a total of 16.5 megawatts. Additionally, on October 30, 2024, CleanSpark Inc. (NASDAQ:CLSK) acquired GRIID Infrastructure. This move will help the company grow its Bitcoin mining capacity in the state of Tennessee. The acquisition adds 68 megawatts of developed infrastructure and CleanSpark Inc. (NASDAQ:CLSK) plans to build it to over 400 megawatts of operational capacity in the coming years.

The company’s plan to expand its mining capacity has been paying off. On January 9, 2025, CleanSpark Inc. (NASDAQ:CLSK) announced that it has achieved more than 10,000 Bitcoin in its treasury. This marks an impressive increase of 236% year-over-year in CLSK’s Bitcoin treasury. All of the Bitcoin is self-mined exclusively from the company’s mining operations in the US.