12 Best Bitcoin Stocks To Buy According To Billionaires

3. Core Scientific, Inc. (NASDAQ:CORZ)

Number of Billionaire Investors: 9

Third on our list of the best Bitcoin stocks is Core Scientific, Inc. (NASDAQ:CORZ), which is an American firm involved in digital asset mining. It operates across three divisions – Digital Asset Self-Mining, Digital Asset Hosted Mining, and HPC Hosting. The firm runs a large fleet of miners to generate digital assets and provide hosting services for major Bitcoin mining clients.

On February 26, Core Scientific, Inc. (NASDAQ:CORZ) expanded its partnership with AI hyper-scaler CoreWeave through a new agreement, adding $1.2 billion in contracted revenue for its Denton, Texas facility. The agreement increases the Denton site’s contracted power by 70 MW, bringing its critical IT load to about 260 MW.

In 2024, Core Scientific, Inc. (NASDAQ:CORZ) generated over $500 million in revenue, primarily from its bitcoin mining operations. In the fourth quarter, revenue came in at $94.9 million, reflecting a 33% decline from the prior year, while adjusted EBITDA stood at $13.3 million. Revenue from digital asset self-mining dropped 29% to $79.9 million, mainly due to a decrease in bitcoin earned, 974 in Q4 2024 compared to 3,042 in the same period the previous year. However, this was partially offset by a 130% year-over-year surge in bitcoin prices. The company’s non-GAAP cash gross margin for the quarter was 16%. The firm closed the year with over $830 million in cash.

On March 12, H.C. Wainwright maintained its Buy rating on Core Scientific, Inc. (NASDAQ:CORZ) with a price target of $17. This reaffirmation followed news that CoreWeave, the company’s primary HPC client, had secured a major contract with OpenAI.