In this article, we will look at the 10 Most Undervalued Bitcoin Mining Stocks to Buy Now.

Trump’s Strategic Crypto Reserve and the Sentiment Around it

President Donald Trump recently signed an executive order to create a strategic crypto reserve that will include Bitcoin, Ether, XRP,  Solana’s SOL token, and Cardano’s ADA. The reserve would be funded by coins seized in criminal and civil forfeiture cases. The US government does not have any plans to buy more bitcoin. In a post on Truth Social, President Trump said:

“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World.”

The strategic reserve announcement, however, disappointed the crypto world, resulting in volatility in crypto prices. Investors were disappointed that it was not a more aggressive program. Matt Hougan, chief investment officer at Bitwise Asset Management, told CNBC’s Squawk Box Asia that “the market is short-term disappointed” the government did not announce it would begin acquiring 100,000 or 200,000 bitcoin immediately. Calling this fall in crypto prices a “short-term setback,” Hougan said:

“I think the market will soon find its footing and realize that actually this is incredibly bullish long term for this asset and for crypto as a whole.”

Does the Positive 2025 Crypto Outlook Still Stand?

CNBC reported that experts and investors anticipate crypto prices to fall even more before eventually rising to set new records. Their positive outlook for 2025 still holds, driven by regulatory tailwinds.

On March 10, Anthony Scaramucci, SkyBridge Capital founder and managing partner, appeared on CNBC’s ‘Squawk Box’ to talk about the state of Bitcoin and crypto, its long-term outlook, and more. He said that if we read through the current administration’s executive order, there is a lot of meat in there for bitcoiners. The problem with bitcoiners, unfortunately, is that they have been beaten down over the last four to five years. The expectations were thus very high that the Trump administration would come in and turn on a switch for the industry.

Commending David Sacks’ initiatives, Scaramucci said that Sacks is brilliantly trying to create a bi-partisan understanding of digital assets and their space in the United States. Trading is sloppy right now, but if we look forward to the next three to six months, we will likely see a lot more institutional buying. The fact that the United States is going to hold this asset would mean that other countries would ultimately end up buying this asset as well.

He said the Trump administration is trying to say that it wouldn’t spend tax-payer dollars on this initiative. Instead, it would find revenue-neutral ways to acquire bitcoin. These could include selling other assets under forfeiture to the United States and transitioning them into bitcoin. It is thus a step in the right direction. He was thus of the opinion that bitcoin is a very valuable long-term strategic asset.

With these trends in view, let’s look at the 10 most undervalued bitcoin mining stocks to buy now.

Our Methodology

Since the Bitcoin mining industry is new and emerging, our criteria for determining undervalued bitcoin mining stocks involved examining analysts’ consensus price targets. We sifted through stock screeners, online rankings, and ETFs to compile a list of crypto mining stocks that analysts see at least 30% upside to over the next 12 months. We then selected the top 10 with the highest analyst upside potential as of March 17, 2025. We also added the number of hedge fund holders as of Q4 2024. We sourced the hedge fund sentiment data from Insider Monkey’s database. The list is sorted in ascending order of hedge fund sentiment.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

10 Most Undervalued Bitcoin Mining Stocks to Buy Now

10. Hut 8 Corp. (NASDAQ:HUT)

Analyst Upside: 141.74%

Number of Hedge Fund Holders: 34

Hut 8 Corp. (NASDAQ:HUT) is a bitcoin miner and a vertically integrated operator of large-scale energy infrastructure. It acquires, builds, designs, and operates data centers to power compute-intensive workloads, such as bitcoin mining. Its operations are divided into four business segments: Digital Assets Mining, Managed Services, High Performance Computing-Colocation and Cloud, and Other.

The company reported $331 million in net income in 2024, up from $21.9 million in the previous year. A significant factor behind this growth was the rise in bitcoin prices. Furthermore, the better-than-expected net income came from the company experiencing a sharp reduction in energy costs, down by 30%. Hut 8 Corp. (NASDAQ:HUT) ended 2024 with 10,171 Bitcoin holdings valued at over $900 million.

Revenue for fiscal Q4 2024 also rose 69% year over year to $162.4 million. The company further strengthened its capital position by introducing a proactive Treasury Management Framework designed to enhance capital efficiency and generate risk-adjusted returns that outperform idle cash. Leveraging this framework, Hut 8 Corp. (NASDAQ:HUT) expanded its strategic Bitcoin Reserve by purchasing 990 Bitcoin, growing it to more than 10,000 Bitcoin with a market value of approximately $950 million at year-end. In a report released on March 6, Brett Knoblauch from Cantor Fitzgerald reiterated a Buy rating on the company, with a price target of $30.00.

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

Analyst Upside: 145.90%

Number of Hedge Fund Holders: 14

Headquartered in New York City, Bit Digital, Inc. (NASDAQ:BTBT) is a holding company that provides a platform for digital assets and AI infrastructure. Its Bitcoin mining operations are spread through the US, Canada, and Iceland.

In October, Bit Digital, Inc. (NASDAQ:BTBT) announced the acquisition of Enovum, which owns, operates, and develops high-performance computing data centers. The deal was valued at around $46 million and marked a significant improvement for Bit Digital, Inc. (NASDAQ:BTBT). The transaction vertically integrated the company’s HPC operations with a fully operational and fully leased Tier 3 data center in a significant city. In addition, it added a strong customer base and brought in an experienced team for the company, allowing it to scale its infrastructure business.

2024 was a significant year for Bit Digital, Inc. (NASDAQ:BTBT), with revenues growing exponentially by 141%, margins expanding, and adjusted EBITDA reaching $73 million. This growth was driven by the substantial growth of the company’s HPC business, which went from one customer in 2024 to more than 20 customers in early January 2025. HPC revenue comprised over 40% of full-year 2024 revenue and more than half of fiscal Q4 2024 revenue, lending a positive light to the company.