5 Most Promising Blockchain Stocks According to Analysts

4. Hut 8 Mining Corp. (NASDAQ:HUT)

Number of Hedge Fund Holders: 2

Average Upside Potential as of February 15: 67.49%

Hut 8 Mining Corp. (NASDAQ:HUT) is one of the top players in the blockchain industry. It is one of the leading Bitcoin miners in North America and has a competitive advantage in terms of its low-cost structure and efficient and industrial-scale crypto mining operations. On February 13, the company announced that it mined 188 Bitcoin in the month of January and disclosed that its Bitcoin reserves as of January 31 sit at 9,274.

As of December 9, H.C. Wainwright analyst Mike Colonnese has a $1.50 price target and Neutral rating on Hut 8 Mining Corp. (NASDAQ:HUT). The stock has a consensus Buy rating among Wall Street analysts and has an average price target of $3.41, which represents an upside of 67.49% from current levels. Hut 8 Mining Corp. (NASDAQ:HUT) is one of analysts’ most promising blockchain stock picks.

As of December 31, Citadel Investment Group is the top shareholder in Hut 8 Mining Corp. (NASDAQ:HUT) and has disclosed a position worth $256,000 in the company.