10 Best Blockchain Stocks to Buy According to Analysts

2. HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Average Price Target Upside Potential According to Analysts: 155.97%

Number of Hedge Fund Holders: 7

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is a Canadian company that specializes in blockchain and AI infrastructure solutions. The company provides high-performance computing (HPC) hosting services and operates data centers to compute and mine digital currencies like Bitcoin. According to analysts, HIVE is one of the best blockchain stocks to invest in.

The company has strategically moved into the high-performance computing (HPC) market. In its second-quarter results for FY2025, ending September 30, 2024, HIVE Digital Technologies Ltd. (NASDAQ:HIVE) reported that its HPC business achieved an annualized revenue run rate of $9 million. In December 2024, HIVE Digital Technologies Ltd. (NASDAQ:HIVE) announced a $30 million investment in advanced NVIDIA H100 and H200 GPUs for its operations in Quebec, Canada. This investment will allow the company to tap into the growing AI and HPC markets. The company expects that the HPC services annualized run-rate revenue will be above $20 million by calendar Q2 2025 when these clusters are deployed.

Additionally, the company is focused on enhancing its Bitcoin mining operations and improving efficiency. During its Q2 for FY2025, HIVE Digital Technologies Ltd. (NASDAQ:HIVE) successfully mined 340 BTC. HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is also constructing a 100 MW project in Paraguay that will double the company’s hashrate to 12.5 EH/s. Once operational, this facility is expected to enhance efficiency and lower breakeven costs.