5 Best Bitcoin Stocks to Buy Now

2. Applied Blockchain (NASDAQ:APLD)

Number of Hedge Fund Holders: 12

Applied Blockchain (NASDAQ:APLD) builds and operates next-generation datacenters in North America for high-performance computing and Bitcoin mining. On September 8, Applied Blockchain (NASDAQ:APLD) inaugurated its 180-megawatt hosting facility in North Dakota.  On July 19, Lake Street analyst Rob Brown reiterated his Buy rating and $10 price target on Applied Blockchain (NASDAQ:APLD).

On August 25, Applied Blockchain (NASDAQ:APLD) announced earnings for the fourth quarter of fiscal 2022, in which it beat EPS estimates by $0.07. The company generated a revenue of $7.52 million and outperformed Wall Street consensus by $0.42 million. The company also announced that it expects to have three operational datacenters by the first half of fiscal 2023, which represents a total hosting capacity of 500 megawatts.

Insider Monkey found Applied Blockchain (NASDAQ:APLD) on 12 hedge fund portfolios at the end of Q2 2022. these funds held collective stakes of 12.19 million in the company.