12 Best Bitcoin Stocks To Buy According To Billionaires

4. Cipher Mining Inc. (NASDAQ:CIFR) 

Number of Billionaire Investors: 8

Cipher Mining Inc. (NASDAQ:CIFR), based in New York, develops and operates large-scale data centers across the United States, allocating resources between bitcoin mining and high-performance computing. Cipher is ranked 4th on our list of the best Bitcoin stocks. On January 30, Cthe company announced a $50 million private investment in public equity (PIPE) from SoftBank Group Corp., a major global investment firm. This funding will support Cipher’s expansion in HPC data center development and establish SoftBank as a key investor in the company. Cipher is ranked fourth on our list of the best Bitcoin stocks.

In the fourth quarter, Cipher Mining Inc. (NASDAQ:CIFR) generated $42 million in revenue and reported GAAP net earnings of $18 million. Adjusted earnings for the quarter reached $51 million, an increase of $54 million from the previous quarter, highlighting its success in maintaining a low-cost bitcoin production model. By the end of 2024, total assets stood at $168 million. However, the company’s cash reserves declined to $6 million, down $81 million from the previous year, primarily due to investments made throughout the year. As of December 31, its liquidity remained solid at $98 million, comprising $6 million in cash and $92 million in bitcoin.

On March 7, Rosenblatt began coverage of Cipher Mining Inc. (NASDAQ:CIFR) with a Buy rating and a price target of $6.5, aligning with the broader analyst consensus, which projects a price range of $7 to $9. Analysts at Rosenblatt highlighted Cipher’s potential expansion into the high-growth HPC sector as the main reason for their optimistic outlook.