15 Hot Tech Stocks to Buy Right Now

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4. Core Scientific Inc. (NASDAQ:CORZ)

Upside Potential: 56%

Number of Hedge Funds: 58

Core Scientific Inc. (NASDAQ:CORZ) operates large-scale, dedicated facilities for digital asset mining and is a leading provider of blockchain infrastructure, software solutions, and services. The company utilizes its extensive fleet of computers (miners) to earn bitcoin for its own account and provides hosting services for large bitcoin mining customers.

As of December 31, 2023, Core Scientific Inc. (NASDAQ:CORZ) was one of the largest blockchain data center, digital asset mining, and hosting service providers in North America, with an average hourly operating power demand of approximately 592 megawatts (MW) for the year. The company is well-positioned to benefit from the growing demand for blockchain technology and the need for efficient and scalable mining operations as the cryptocurrency market continues to expand.

On February 5, 2025, the company released its production and operations update, reporting that it earned 256 bitcoins in January (compared to 291 in December 2024) from its owned fleet of miners. As of the end of the month, the company operated approximately 161,000 owned bitcoin miners, representing about 96% of the bitcoin miners operating in its data centers. The stock has a favorable view from analysts, with an upside potential of 48%. During the last week of January 2025, Keefe, Bruyette & Woods began coverage on Core Scientific Inc. (NASDAQ:CORZ) with an Outperform rating and a $22 price target.

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