5 Best Bitcoin Stocks to Buy Now

3. Core Scientific Inc (NASDAQ:CORZ)

Number of Hedge Fund Holders: 11

Core Scientific Inc (NASDAQ:CORZ) owns and operates facilities for cryptocurrency and Bitcoin mining and colocation services. The company provides blockchain infrastructure, software solutions, and services. Wall Street analysts have turned bullish on Core Scientific Inc (NASDAQ:CORZ). On September 6, H.C. Wainwright analyst Kevin Dede started coverage of Core Scientific Inc (NASDAQ:CORZ) with a Buy rating and a $5 price target. On September 16, Cowen analyst Stephen Glagola revised his price target on Core Scientific Inc (NASDAQ:CORZ) to $3.75 from $4.00 and maintained a buy-side Outperform rating on the shares. On September 27, Compass Point analyst Chase White started coverage of Core Scientific Inc (NASDAQ:CORZ) with a Buy rating and a $4 price target. The stock has an average price target of $5.58, which implies a 336% upside from current levels.

On August 11, Core Scientific Inc (NASDAQ:CORZ) reported earnings for the second quarter of fiscal 2022. The company reported earnings per share of $0.18 and generated a revenue of $163.97 million, beating analyst expectations by $2.07 million. On September 6, Core Scientific Inc (NASDAQ:CORZ) announced that it had produced 1,334 Bitcoins in August from self-mining operations.

At the close of Q2 2022, 11 hedge funds disclosed ownership of stakes in Core Scientific Inc (NASDAQ:CORZ). These funds held collective stakes of $5.31 million in the company.