12 Best Cryptocurrency Stocks to Buy According to Wall Street

5. CleanSpark, Inc. (NASDAQ:CLSK)

Average Upside Potential: 35.92%

CleanSpark, Inc. (NASDAQ:CLSK) develops infrastructure for Bitcoin. The Bitcoin miner owns and operates multiple data centers that primarily run on low-carbon power. The firm uses a sustainable energy mix comprising nuclear, hydroelectric, solar, and wind to mine Bitcoin in a responsible manner.

CleanSpark is one of the most efficient operators in the industry boasting efficiency of fleet as it mines more bitcoin with less power, efficiency of operations as it operates its own facilities, and efficiency in capital with a faster ROI for shareholders. While the company remains focused solely on bitcoin mining, it believes this focus positions it well for delivering long-term value with its megawatt capacity resulting in current success. It also has one of the highest realized hashrates among other Bitcoin mining companies, as of July 31.

CleanSpark recorded FY2024 third-quarter revenue of $104.1 million, up 129% year-over-year. The firm witnessed a 24% rise in hashrate during the quarter and a 21% rise in efficiency year-to-date. It is also pursuing expansions into the states of Tennessee and Wyoming. The firm also partnered with Coinbase on a $50 million line of credit during the quarter.

As a key player in Bitcoin mining with a clean energy base, CleanSpark, Inc. (NASDAQ:CLSK) has an impressive growth and efficiency record and ranks on our list of the best crypto stocks. The stock has an average upside potential of 35.92%, as of November 12.