7 Best Bitcoin and Blockchain Stocks To Buy According to Analysts

3. Cipher Mining Inc. (NASDAQ:CIFR)

Average Upside Potential: 93.30%

Cipher Mining Inc. (NASDAQ:CIFR) is an industrial-scale Bitcoin mining company that remains dedicated to expanding and strengthening the Bitcoin network’s critical infrastructure in the United States. Cipher focuses on the development and operation of Bitcoin mining data centers in the country. The US-based Bitcoin mining company was incorporated in 2020 and aims to be the market leader in Bitcoin mining growth and innovation.

Cipher Mining Inc. (NASDAQ:CIFR) is uniquely positioned to maximize opportunities in both Bitcoin mining and HPC infrastructure. Recently, the firm strategically expanded into the High-Performance Computing (HPC) business and holds the potential to become a market-leading HPC infrastructure provider since it has secured 4 new North American sites with up to 1.7 GW of capacity and all these sites have adequate access to consistent power, land, and fiber necessary to accommodate HPC. With a team of industry experts with experience at Google, Vantage, and Meta on board and significant early interest from many potential investors and financiers, Cipher is poised to expand.

As indicated by the CEO of Cipher Mining Inc. (NASDAQ:CIFR), the firm currently operates at 8.7 exahashes per second of self-mining hashrate and is on target to achieve 13.5 exahashes per second by the year’s end and 35.0 exahashes per second by 2025’s end, almost 4 times than the current scenario. Cipher has a strong buy rating and an average upside potential of 93.30% amidst ambitious plans for expansion and consistent growth in Bitcoin mining capacity. Thus, Cipher ranks third among the best bitcoin and blockchain stocks to buy according to analysts.