8 Best Bitcoin Stocks to Buy Now

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6. Cipher Mining Inc. (NASDAQ:CIFR)

Cipher Mining Inc. (NASDAQ:CIFR) is one of the best bitcoin stocks to buy now. Cantor Fitzgerald cut the price target on Cipher Mining Inc. (NASDAQ:CIFR) to $22 from $24 on April 9, reiterating an Overweight rating on the shares. The firm told investors that it believes the world is heading toward the proliferation of AI across nearly every sector, business, and economy. In such a context, it considers AI infrastructure to be “an attractive place to invest”, given that investors are somewhat agnostic to which AI app or AI model emerges victorious. Cantor added that it envisions a persistent supply/demand imbalance for the next five-plus years that caters to pricing remaining strong.

In a separate development, Cipher Mining Inc. (NASDAQ:CIFR) announced on March 25 the execution of its third data center campus lease, stating that the agreement is for an initial term of 15 years with an investment-grade Hyperscale tenant. The terms of the agreement stated that the company would develop and deliver a new HPC data center at one of its existing sites.

Cipher Mining Inc. (NASDAQ:CIFR) develops and operates bitcoin mining data centers. It operates bitcoin mining data centers in Texas through its subsidiaries, including Cipher Mining Technologies Inc. The company specializes in industrial-scale Bitcoin mining and is dedicated to enhancing and fortifying the critical infrastructure of the Bitcoin network in the US.

While we acknowledge the potential of CIFR 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 CIFR and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Best Bitcoin Stocks to Buy Now.

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