12 Best Cryptocurrency Stocks to Buy According to Wall Street

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

Average Upside Potential: 10.70%

Bit Digital, Inc. (NASDAQ:BTBT) is a large-scale publicly-listed Bitcoin miner and AI infrastructure provider. The firm has two revenue streams including bitcoin mining and high-performance computing (HPC) services. Bit Digital’s bitcoin mining operations are situated in the United States, Canada, and Iceland. The firm operates Bit Digital AI as an established business line that provides infrastructure services for artificial intelligence applications. It strives to achieve its mission of building the premier ​digital asset mining and HPC services platform while being highly sustainable.

Bit Digital’s diversified revenue streams are complementary and reduce its exposure to digital asset price volatility. With a fleet of over 50,000 specialized computers diversified across hosting locations, the firm has an institutional scale bitcoin mining business. At the same time, the company offers specialized HPC services to bolster the growing demands of generative AI workstreams with more than 2,000 GPUs.

In October 2024, Bit Digital, Inc. (NASDAQ:BTBT) produced 52.2 BTC, a 1.4% increase compared to the prior month. The firm’s active hashrate was approximately 2.43 exahashes per second, as of October 31. Simultaneously, Bit Digital had 256 servers actively generating revenue from its initial Bit Digital AI contract while it earned $4.3 million of unaudited revenue from this contract in October 2024.

Analysts hold a consensus Buy rating on the stock and their 1-year median price target points to a 10.70% upside from the current stock price. Therefore, Bit Digital, Inc. (NASDAQ:BTBT) is another attractive crypto stock to invest in.