9 Best Bitcoin Mining Stocks to Buy According to Hedge Funds

8. Cleanspark Inc. (NASDAQ:CLSK)

Sector/Industry: Financial (Capital Markets)

Share Price: $11.40

Potential Upside: 113.2%

Number of Hedge Fund Holders: 34

Cleanspark Inc. (NASDAQ:CLSK) is one of the best bitcoin mining stocks to buy according to Hedge Funds.

As of December 24 closing, forecasts remain strong for Cleanspark Inc. (NASDAQ:CLSK) with a consensus 1-year average price target of $24.30. This results in an upside potential of over 113% for investors, after yielding almost 74% already in 2025. The stock has been covered by 10 analysts, all of whom have given Buy calls.

Gregory Lewis from BTIG was one of those analysts who reiterated his bullish stance on Cleanspark Inc. (NASDAQ:CLSK). The analyst assigned a Buy rating to the stock on December 15, with a $26 price target. As per Lewis’s estimates, there is still an upside potential of around 128% for investors.

Earlier in December, Cleanspark Inc. (NASDAQ:CLSK) shared its bitcoin mining data for the month of November. The management revealed mining of 587 bitcoins during the month, and an increase in contracted power by 11% during the process.

CEO and Chairman Matt Schultz said:

“CleanSpark’s progress this year reflects what’s possible when a team believes in a shared mission. Last month, we expanded our contracted power to over 1.4 GW with an additional 125 MW in TVA’s service territory and had a successful closing of our $1.15 billion zero-coupon convertible notes offering. Our team is focused on expanding CleanSpark’s contracted power, continuing to mine efficiently, and positioning the business to rapidly lease existing capacity while maintaining optionality to shift hashrate to optimal segments of the portfolio. We are proud of fiscal 2025 and even more excited for the road ahead.”

Cleanspark Inc. (NASDAQ:CLSK) is labeled as “America’s Bitcoin Miner”. The company operates an extensive network of bitcoin mining assets across the U.S., which have gigawatts of mining capacity. The company is now making a strategic pivot towards high-performance computing and AI by leveraging its current infrastructure asset base.