7 Best Bitcoin Stocks To Buy Right Now

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1. Core Scientific, Inc. (NASDAQ:CORZ)

Number of Hedge Fund Holders: 53

Core Scientific, Inc. (NASDAQ:CORZ) is a leader in digital infrastructure for Bitcoin mining and high-performance computing. The firm was founded in 2017 and has scaled its operations over the years to be the first digital asset miner in North America to achieve 100, 250, and 500 megawatts of operating capacity. The firm engages in Bitcoin mining while it offers hosting services for Bitcoin mining and high-performance computing customers at its eight operational data centers including 2 in Georgia, 1 in Kentucky, 1 in North Carolina, 1 in North Dakota, and 3 in Texas.

The market position of Core Scientific, Inc. (NASDAQ:CORZ) remains strong as one of the largest bitcoin minors in North America. The firm receives the majority of its revenue from earning Bitcoin for its own account. While Core Scientific is strengthening its Bitcoin mining business, it is also focusing on expanding its HPC hosting capacity. The Bitcoin miner contracted 382 megawatts of infrastructure to host high-performance computing, something which will bring a potential revenue of almost $6.7 billion over 12 years. Hence, the company’s high-power digital infrastructure portfolio based on Bitcoin mining and high-performance computing positions it well for market leadership and growth.

Core Scientific successfully navigated the April halving event. During the second quarter, the firm reported a total revenue of $141 million, earned 1,680 bitcoins, operated 19.4 exahashes per second self-mining hash rate, and added 72 megawatts of infrastructure at the Denton, Texas data center. The firm has also reported HPC hosting as a separate segment which shows the growth driving ability for the business. The strength of its respective businesses and the status of earning more bitcoin than any other public company in North America since 2021 ranks Core Scientific, Inc. (NASDAQ:CORZ) among the 7 best Bitcoin stocks to buy right now. Core Scientific has 59 hedge fund holders, as of Q2 2024.

While we acknowledge the potential of CORZ as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

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