5 Bitcoin Mining Stocks to Buy Now

4. Core Scientific, Inc. (NASDAQ:CORZ)

Number of Hedge Fund Holders: N/A

Core Scientific, Inc. (NASDAQ:CORZ) is headquartered in Austin, Texas. The company specializes in net carbon-neutral blockchain infrastructure and digital asset mining operations in North America. It uses advanced cryptographic algorithms to validate transactions on specific digital asset network blockchains. 

On April 5, Core Scientific, Inc. (NASDAQ:CORZ) announced its March production update. The company’s self-mining operations produced 1,143 bitcoins in March, averaging 36.9 bitcoins daily, compared to the daily February average of 35 BTC. Core Scientific, Inc. (NASDAQ:CORZ) operated its own fleet of more than 80,000 bitcoin miners, producing 8.3 EH/s. The company expects a 2022 hashrate ranging from 40 EH/s to 42 EH/s, with total power between 1,200 MW and 1,300 MW.

Riley analyst Lucas Pipes on March 17 maintained a Buy recommendation on Core Scientific, Inc. (NASDAQ:CORZ) and raised the firm’s price target on the shares to $16 from $15. With many miners yet to transition to notable EBITDA generation, Core Scientific, Inc. (NASDAQ:CORZ)’s operational performance and growth execution over the last year stands out, the analyst told investors in a research note.

According to Insider Monkey’s Q4 data, David Rosen’s Rubric Capital Management is the biggest stakeholder of Core Scientific, Inc. (NASDAQ:CORZ), with 2.20 million shares worth over $24 million. The hedge fund boosted its stake in the company by 49% in the fourth quarter of 2021.