With significant hedge fund interest, Hut 8 Corp. (NASDAQ:HUT) secures a spot on our list of the 12 most promising blockchain and crypto mining stocks according to hedge funds. Piper Sandler Remains Bullish on Hut 8 Corp. (HUT) as Expanding Power Strengthens Growth Outlook On October 20, 2025, Piper Sandler boosted its price target on Hut 8 Corp. (NASDAQ:HUT) from $33 to $74, maintaining an “Overweight” rating. The investment firm’s revised target reflects the company’s 1.5 gigawatts of power projects u ...

Group 1 - Cipher Mining Inc. (NASDAQ:CIFR) has garnered significant interest from hedge funds, placing it among the 12 most promising blockchain and crypto mining stocks [1] - Lucid Capital initiated coverage of Cipher Mining with a "Neutral" rating and a price target of $18, highlighting the company's potential amid rising power demand [2][3] - The analyst from Lucid Capital believes that Cipher Mining is well-positioned to benefit from $1 trillion in incremental investments made in recent years, which enhances its ability to scale operations [3] Group 2 - In September, Cipher Mining produced 251 bitcoin and completed Phase I of its Black Pearl facility, which increased its production capacity [4] - The company holds 1,500 bitcoin in reserve and is actively developing its Barber Lake site, positioning itself to capture opportunities in both crypto and compute markets [4][5] - Cipher Mining operates industrial-scale Bitcoin mining and high-performance computing data centers across the U.S., supporting blockchain infrastructure and digital asset network operations [5]

Core Insights - MARA Holdings, Inc. is recognized as one of the 12 most promising blockchain and crypto mining stocks according to hedge funds [1] - Guggenheim analyst Jonathan Lee initiated coverage on MARA with a Hold rating, citing unclear strategic outlook despite the company's leadership in Bitcoin mining capacity and its acquisition of Exaion [2] - Cantor Fitzgerald raised its price target for MARA to $30, attributing this to higher Bitcoin prices and solid mining output, with the company mining 736 Bitcoin in September, generating approximately $83.5 million in revenue [3][4] Company Performance - MARA Holdings generated $245.7 million in revenue for the third quarter of 2025, showcasing strong operational performance [4] - The company has one of the largest Bitcoin reserves among public companies, positioning it as a key player in the crypto-mining ecosystem [5] Market Dynamics - The share price of MARA is closely correlated with Bitcoin's price, which has experienced increased volatility recently, contributing to a cautious outlook from analysts [2] - Despite a slight reduction in fiscal 2025 revenue and EBITDA estimates due to rising network hash rates, confidence remains in MARA's execution and operational efficiency [5]

Core Viewpoint - Core Scientific, Inc. (NASDAQ:CORZ) is viewed as capable of thriving independently, with opposition to its proposed $9 billion acquisition by CoreWeave [2][3][5] Group 1: Acquisition Opposition - Institutional Shareholder Services (ISS) recommends voting against CoreWeave's acquisition, citing Core Scientific's historical success [2] - Two Seas Capital, the largest active shareholder of CORZ, supports ISS's recommendation and emphasizes the company's potential for significant upside independently [3] - Concerns are raised regarding the valuation and fixed exchange ratio of the proposed deal, which may expose shareholders to increased risks [5] Group 2: Market Reaction - Following ISS's recommendation, CORZ shares surged over 5% in post-market trading, indicating growing investor support for independence [5] - In contrast, CoreWeave's shares have declined approximately 15% since the announcement of the proposed transaction [5] Group 3: Company Operations - Core Scientific, Inc. operates in digital asset mining and high-performance computing services through its self-mining, hosted mining, and HPC segments in the U.S. [6]

Core Insights - Riot Platforms, Inc. (NASDAQ:RIOT) is recognized as one of the 12 most promising blockchain and crypto mining stocks by hedge funds [1] - Piper Sandler has raised its price target for Riot Platforms from $18 to $25 while maintaining a "Neutral" rating [2] - The firm anticipates potential partnerships in AI and high-performance computing (HPC) at Riot's facilities in Corsicana and Rockdale, Texas, due to their significant power access and proximity to major metro areas [3] Company Overview - Riot Platforms operates large-scale Bitcoin mining and engineering facilities across Texas and Kentucky, providing power infrastructure, custom electrical solutions, and data center services to industrial and governmental clients [5] Strategic Outlook - Piper Sandler believes that Riot Platforms is positioned to explore discussions for transitioning part of its Bitcoin mining operations towards high-performance computing applications, indicating potential long-term strategic diversification [4]

With significant hedge fund interest, Strategy Inc. (NASDAQ:MSTR) secures a spot on our list of the 12 most promising blockchain and crypto mining stocks according to hedge funds. TD Cowen Maintains Bullish Stance on Strategy (MSTR) Amid Resilient and Continued Adoption of Bitcoin Globally On October 20, 2025, TD Cowen reiterated its “Buy” rating on Strategy Inc (NASDAQ:MSTR) with a $620 price target. The investment firm’s bullish stance is attributed to the resilience and continued adoption of Bitcoin ...

Group 1 - TeraWulf Inc. (NASDAQ:WULF) is recognized as one of the 12 most promising blockchain and crypto mining stocks according to hedge funds [1] - Northland raised its price target on TeraWulf from $15 to $16.25, maintaining an "Outperform" rating, citing attractive debt pricing and improving financial conditions [2] - The company announced a $3.2 billion senior secured notes offering, due in 2030, to fund expansion and enhance liquidity in response to rising demand for AI and digital assets [3] Group 2 - TeraWulf operates Bitcoin mining facilities in New York and Pennsylvania and provides mining hosting services to third parties [4]

Core Insights - CleanSpark, Inc. (NASDAQ: CLSK) has garnered significant interest from hedge funds, placing it among the top 12 promising blockchain and crypto mining stocks [1] - BTIG has raised its price target for CleanSpark from $22 to $26, maintaining a "Buy" rating, reflecting confidence in the company's growth prospects [2] - The company's recent capacity expansion has increased its hash rate to 50 EH/s, marking an approximate 80% growth year-to-date [3] Company Performance - CleanSpark's strategic focus on owning and scaling its mining infrastructure has led to strong revenue growth and a healthy balance sheet [3] - The company is diversifying into high-performance computing (HPC) colocation, leveraging its expanding data center network [4] - CleanSpark is positioned to benefit from both cryptocurrency and AI-driven computing opportunities due to its ongoing expansion across U.S. sites [5] Market Position - The company's operations span across the Americas, managing data centers that support blockchain operations and emerging compute applications [5]

Core Insights - Bitfarms Ltd. (NASDAQ:BITF) is recognized as one of the 12 most promising blockchain and crypto mining stocks according to hedge funds [1] - The company has converted a $300 million private debt facility into project-level financing to fund its 350 MW Panther Creek campus in Pennsylvania [2] - An immediate drawdown of $50 million has been made to advance equipment purchases and site construction, with groundbreaking scheduled for Q4 2025 [3] - Northland has raised its price target for Bitfarms from $3.25 to $7.00 while maintaining an "Outperform" rating, highlighting the company's 1.3 GW development pipeline and its role in the U.S. AI/HPC infrastructure buildout [4] Financial Developments - The conversion of the $300 million private debt facility aims to support the development of the Panther Creek campus [2] - The $50 million drawdown is intended for equipment purchases and site construction [3] Market Position - Bitfarms operates integrated Bitcoin mining and digital infrastructure data centers across Canada, the U.S., Paraguay, and Argentina, focusing on blockchain validation and computation power services [4] - The company is viewed as an underappreciated investment opportunity in the context of the next wave of U.S. AI/HPC infrastructure development [4]

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