11 Penny Stocks That Will Make You A Millionaire

7. Bit Digital, Inc. (NASDAQ:BTBT)

Number of Hedge Fund Holders: 8

Bit Digital, Inc. (NASDAQ:BTBT) is an application software company based in New York. It engages in the Bitcoin mining business, and also undertakes treasury management activities.

James Altucher’s Microcap Millionaire newsletter service recently covered Altucher’s five “microcap superstocks.” One of the stocks covered was a crypto tech firm, which was a tiny fraction of the size of other Bitcoin miners since it had a market capitalization of only $300 million and was considered very cheap while having 10x potential. Another positive point for the stock was that it’s begun diversifying its operations.

According to Travis Johnson over at Stock Gumshoe, the Bitcoin Superstock teased in this newsletter is most likely Bit Digital, Inc. (NASDAQ:BTBT). This company is aiming to generate $100 million in AI revenue on an annualized basis, which would mean that it will double its current AI business while building on its 2,000 NVIDIA GPUs in an Icelandic data center. Bit Digital, Inc. (NASDAQ:BTBT) has an immense upside potential of 70.5% as of August 27, according to analysts.

Eight hedge funds were long Bit Digital, Inc. (NASDAQ:BTBT) in the second quarter, with a total stake value of $20.3 million. Intrinsic Edge Capital was the most prominent shareholder in the company, holding 2,690,000 shares.