Bitcoin Stocks to Buy: Wall Street's 8 Top Crypto Miners: TipRanks – Business Insider

After a sluggish start to 2022, bitcoin has chalked up a second straight month of gains in March.
The largest cryptocurrency by market capitalization has gained 11%, taking it towards $50,000 and meaning it’s up about 3% year-to-date.
Other cryptocurrencies have also enjoyed a resurgence in March. Ethereum gained 20% to pass $3,400, and solana is up 24% this month.
Analysts are divided on whether the “crypto winter” is over, or this month will just prove to be a temporary respite. But unsure investors could buy bitcoin mining stocks as an alternative to individual tokens, which can be a lot more volatile.
These companies own computers that “mine” cryptocurrencies by solving complex mathematical problems. That means that they profit when the price of bitcoin rises.
Mike Venuto, who manages a blockchain-focussed ETF for the investment firm Amplify, told Insider he invests in bitcoin mining stocks because there is lower potential downside if crypto enters a bear market .
“Lots of these companies actually project their earnings based on bitcoin’s price being $30,000,” he said. “Our fund won’t suffer quite as much [in a crypto winter], because we have a portfolio of companies with real earnings.”
To determine which crypto-mining companies are strong stocks to buy right now, Insider looked at TipRanks‘ analyst consensus metric for any publicly traded bitcoin miner with a market capitalization over $300 million. The research firm surveyed top stock pickers’ notes over the past three months to calculate a target price for each stock.
Ticker: MARA
Price: $30.10
Market cap: $3.2 billion
Analyst view: 5 buy/0 hold/0 sell
Target price: $55
Target price upside: 83%
Ticker: CORZ
Price: $8.41
Market cap: $2.7 billion
Analyst view: 4 buy/0 hold/0 sell
Target price: $18
Target price upside: 114%
Ticker: RIOT
Price: $22.10
Market cap: $2.7 billion
Analyst view: 7 buy/1 hold/o sell
Target price: $44
Target price upside: 99%
Ticker: HUT
Price: $5.95
Market cap: $1.1 billion
Analyst view: 5 buy/0 hold/0 sell
Target price: $12
Target price upside: 102%
Ticker: HIVE
Price: $2.22
Market cap: $940 million
Analyst view: 3 buy/0 hold/0 sell
Target price: $4
Target price upside: 80%
Ticker: WULF
Price: $8.48
Market cap: $850 million
Analyst view: 1 buy/o hold/o sell
Target price: $24
Target price upside: 183%
Ticker: BITF
Price: $4.06
Market cap: $790 million
Analyst view: 1 buy/0 hold/0 sell
Target price: $10
Target price upside: 150%
Ticker: GREE
Price: $8.45
Market cap: $370 million
Analyst view: 1 buy/1 hold/0 sell
Target price: $28
Target price upside: 231%

Check out: Personal Finance Insider’s picks for best cryptocurrency exchanges
Keep reading
For you