10 Best Affordable AI Stocks to Buy

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

Forward P/E: 7.76

Analyst Upside: 103.39%

Number of Hedge Fund Holders: 6

Bit Digital, Inc. (NASDAQ:BTBT) is one of the best affordable AI stocks to buy. On July 14, Bit Digital, Inc. (NASDAQ:BTBT) announced that it signed a placement agency agreement with B. Riley Securities for the purchase and sale of 22 million ordinary shares.

Bit Digital’s ordinary shares were offered at a price of $3.06 per share. The company generated almost $67.3 million in gross proceeds. The company mentioned that it would use the net proceeds to purchase Ethereum.

On July 18, the company announced that it used the proceeds to purchase nearly 19,683 Ethereum (ETH). Following this purchase, Bit Digital now holds 120,306 ETH, making it one of the largest institutional Ethereum treasuries. The company’s CEO said that they view Ethereum as a key to the next phase of digital financial infrastructure. He added, “We remain committed to scaling our ETH holdings as part of that long-term strategy.”

Bit Digital, Inc. (NASDAQ:BTBT) provides infrastructure for HPC data centers and colocation services for AI and machine learning applications.

While we acknowledge the potential of BTBT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BTBT and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

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