12 Crypto Stocks with the Biggest Upside Potential

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1. Bitfarms Ltd. (NASDAQ:BITF)

Analyst Upside: 114.29%

Based in Canada, Bitfarms Ltd. (NASDAQ:BITF) is a vertically integrated Bitcoin mining company. It owns 11 farms in the US, Canada, Argentina, and Paraguay. The company operates server farms that comprise computers (Miners) specifically designed to validate transactions on the Bitcoin Blockchain. It operates Miners about 24 hours a day to produce computational power sold to Mining Pools under a formula-driven rate known as Full Pay Per Share (FPPS).

Bitfarms Ltd. (NASDAQ:BITF) ranks among the largest internationally diversified energy contracts portfolios in the Bitcoin data center business. It has managed to grow its portfolio organically, which lends it a competitive market edge. The company’s portfolio is also not susceptible to market risks because of its exposure to various energy sources and providers, climates, government authorities, and geographies.

2024 was a transformational year for the company, as it upgraded 10 data centers and added 3 new ones to its portfolio. It unracked more than 50,000 older generation miners and racked over 46,000 new miners, increasing its hash rate by 83% to 11.9 exahash in fiscal Q3 2024. The company is improving its organizational structure to match its future goals and scale of operations.

In addition, Bitfarms Ltd. (NASDAQ:BITF) announced the acquisition of Stronghold Digital Mining, marking the largest acquisition between two public companies in the Bitcoin mining sector.

Overall, BITF ranks first among the 12 crypto stocks with the biggest upside potential. While we acknowledge the potential of crypto stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BITF but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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