The crypto mining process ensures a secure way to create and release new digital coins, which are later transacted on various networks, such as Bitcoin. The process involves complex hardware and machines used exclusively for mining purposes. Also, to remain competitive in this landscape, miners rely heavily on cheap or renewable energy sources to support their operations. This is because electricity does account for a major chunk of the cost.
According to a recent report from the Blockchain Council, the profitability of mining operations in 2025 depended on four essential factors. These were cheap power sources, optimized hardware, friendly regulations, and scalability of operations. This makes it harder for smaller firms to remain competitive. But for other companies, just having large, scalable operations with low-cost energy access is not enough to be sustainable in this market. Recent volatility in the underlying bitcoin price has made these larger firms realign their strategic positions.
Reuters recently published a story highlighting private litigation risks that have accompanied wild swings in bitcoin prices during 2025. Although not a primary contributor, such a risk factor has played its part in pushing bitcoin miners to diversify their operations towards AI-enabled data infrastructures. Rising demand for high-performance computing, AI-inference, and cohosting has created new avenues for mining companies to look into.
According to analysts covering bitcoin mining companies, lucrative return potential still exists in this market for investors. Moreover, many hedge funds have allocated significant investments to such companies.
With that background, let’s explore our 9 Best Bitcoin Mining Stocks to Buy According to Hedge Funds.
Photo by bitcoin executium on Unsplash
Our Methodology
To identify the best bitcoin mining stocks for this article, we began by screening U.S.-listed bitcoin mining companies with market capitalizations above $2 billion. To avoid penny stocks, we added a filter to include companies with share prices above $5. We also shortlisted only stocks with at least 20% upside potential according to TipRanks consensus.
In the final part of the screening, we identified the number of hedge funds that held positions in these stocks as of the end of the third quarter of 2025. Finally, we ranked the list in an ascending order of hedge fund holdings.
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 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
9. Bitdeer Technologies (NASDAQ:BTDR)
Sector/Industry: Technology (Software – Application)
Share Price: $11.49
Potential Upside: 183.3%
Number of Hedge Fund Holders: 26
Bitdeer Technologies (NASDAQ:BTDR) is one of the best bitcoin mining stocks to buy according to Hedge Funds.
As of December 24, consensus ratings remained strongly in favor of Bitdeer Technologies (NASDAQ:BTDR), despite a 47% drop in share price during 2025. The stock received coverage from 11 analysts, all of whom have assigned Buy ratings. As per estimates, the consensus 1-year average price target stands at $32.55, offering an upside potential of 183.3%.
On December 15, Brett Knoblauch from Cantor Fitzgerald also reaffirmed his bullish view on Bitdeer Technologies (NASDAQ:BTDR). The analyst assigned a Buy rating with a price target of $34, which implied a huge upside potential of 196%.
Bitdeer Technologies (NASDAQ:BTDR) recently reported its bitcoin production figures for November 2025, showcasing a large jump in self-mining hashrate to 45.7 EH/s. The company produced 526 bitcoins during the month, witnessing a 251% year-on-year growth, driven primarily by an efficient usage of SEALMINER mining rigs.
The management is currently expanding its AI cloud capabilities through the development of new data center infrastructure. This also includes their development plans in Malaysia. The figures for November reported a $10 million increase in annual recurring revenues for the business due to the company’s expansion into new areas.
Bitdeer Technologies (NASDAQ:BTDR) offers bitcoin mining capabilities covering the entire lifecycle, including self-mining as well as services for external customers. For self-mining, the company has been effectively utilizing SEALMINER rigs to expand its hashrate. Apart from that, the company also designs chips and operates data centers.
