5 Crypto Stocks with Huge Upside Potential

2. Bit Digital Inc. (NASDAQ:BTBT)

Stock Upside Potential: 193.21%

Number of Hedge Fund Holders: 18

Bit Digital Inc. (NASDAQ:BTBT) is one of the crypto stocks with huge upside potential. On March 5, Bit Digital Inc. (NASDAQ:BTBT) announced it held about 155,434 Ethereum as of the end of February. The total value of ETH holdings was $305.4 million, based on an average price of $1,965.

The average price of the total Ethereum acquired as of the end of February stood at $3,045. The company also had 138,269 ETH, or 89% of its total ETH holding, staked. Staking operations generated about 313.9 ETH as of February with an annualized yield of 2.7%.

Noble Capital Markets analysts have reiterated an Outperform rating on Bit Digital Inc following the company’s February Ethereum, treasury, and staking data. The firm maintains a $5.50 price target on the stock, implying significant upside potential.

According to Noble Capital Markets, Bit Digital is well-positioned to capitalize on its digital treasury model, given its asset-light operating approach.

“The transformation into an Ethereum Treasury with a large ownership stake in WhiteFiber has positioned the company to capitalize on two new trends, in our view,” the analysts wrote.

Bit Digital Inc. (NASDAQ:BTBT) is a strategic asset company that operates at the intersection of digital assets and high-performance computing (HPC). It focuses on Ethereum (ETH) staking, artificial intelligence (AI) cloud services, and Bitcoin mining. It also provides specialized infrastructure for AI, staking services, and maintains a large, liquid treasury of digital assets.