12 Crypto Stocks with the Biggest Upside Potential

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

Analyst Upside: 39.21%

Headquartered in New York City, Bit Digital (NASDAQ:BTBT) is a holding company that provides a platform for digital assets and AI infrastructure. Its Bitcoin mining operations are spread through the US, Canada, and Iceland.

In October, Bit Digital, Inc. (NASDAQ:BTBT) announced the acquisition of Enovum, a company that owns, operates, and develops high-performance computing data centers. The deal was valued at around $46 million and marked a significant improvement for Bit Digital, Inc. (NASDAQ:BTBT). The transaction vertically integrated the company’s HPC operations with a fully operational and fully leased Tier 3 data center in a significant city.

Bit Digital, Inc. (NASDAQ:BTBT) also added colocation as a new business and revenue line, added a substantial number of existing and prospective customers, and gained a strong pipeline of expansion site opportunities. In addition, the company announced a term sheet with Boosteroid. Its initial order of around 300 GPUs was in the process of being delivered to data centers in the US and was expected to begin revenue generation by the end of November.

This number does not include the GPUs to be delivered to European data centers. Overall, Bit Digital, Inc. (NASDAQ:BTBT) expects its deployment with Boosteroid to reach around 10,000 GPUs throughout 2025.

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