8 Best Crypto and Blockchain Stocks To Buy According to Analysts

4. Bit Digital, Inc. (NASDAQ:BTBT)

Analyst Upside: 40.85%

Number of Hedge Fund Holders: 6

Bit Digital, Inc. (NASDAQ:BTBT) is a holding company that provides a platform for digital assets and artificial intelligence infrastructure. Headquartered in New York City, the company’s Bitcoin mining operations are located in the United States, Iceland, and Canada. Its business line, Bit Digital AI, offers infrastructure services for AI applications. The primary intent of its mining platform and facilities is to accumulate Bitcoin. The company also introduced ETH staking to power the Ethereum blockchain.

In October, the company announced the acquisition of Enovum, an owner, operator, and developer of high performance computing data centers, for around $46 million. The deal proved transformational for Bit Digital, Inc. (NASDAQ:BTBT) as it vertically integrated the company’s HPC operations with a fully operational and fully leased Tier 3 data center. The company added colocation as a new revenue line and business, along with a solid mix of prospective and existing customers. The acquisition also allowed it a strong pipeline of expansion site opportunities and an experienced team to lead the development process.

Bit Digital, Inc. (NASDAQ:BTBT) is pushing forward with its development pipeline and anticipates to add 8 megawatts by fiscal Q2 2025 and reach a total of 32 megawatts by the end of the year. The company is likely to dedicate a portion of the near-term megawatts to Bit Digital GPUs. It ranks fourth on our list of the 8 best crypto and blockchain stocks to buy according to analysts.