9 Best Bitcoin Mining Stocks to Buy According to Hedge Funds

6. Cipher Mining Inc. (NASDAQ:CIFR)

Sector/Industry: Financial (Capital Markets)

Share Price: $16.22

Potential Upside: 50.6%

Number of Hedge Fund Holders: 40

Cipher Mining Inc. (NASDAQ:CIFR) is one of the best bitcoin mining stocks to buy according to Hedge Funds.

The consensus sentiment towards Cipher Mining Inc. (NASDAQ:CIFR) remained positive. As of December 24 closing, the stock has received 12 Buy calls and 1 Hold rating from analysts. Such optimism prevails even after a spike of 250% in share price during 2025. The bullish consensus has resulted in an estimated 1-year average price target of $24.42, implying a further 50.6% upside for investors.

One of the Buy ratings was assigned by Joseph Vafi from Canaccord Genuity, who reaffirmed his views on Cipher Mining Inc. (NASDAQ:CIFR) on December 15. Vafi raised his estimated price target for the stock from $21 to $27, which results in an upside of almost 66.5%.

According to TipRanks, Vafi has based his estimates on various growth factors for Cipher Mining Inc. (NASDAQ:CIFR). He highlighted the company’s pursuit of AI data center deals that will pay off in the future, given a strong anticipated demand. Moreover, the company is well-positioned to capture a strong data center customer base, which would include high-quality hyperscaler tenants like AWS. The analyst also mentioned the company’s recent engagements with counterparties such as FluidStack, which give them a strategic edge. Prospects of AI-led data center colocation at favorable capex and pricing terms also add to the analyst’s bullish sentiment.

Cipher Mining Inc. (NASDAQ:CIFR) develops and operates industrial-scale data centers that are utilized for bitcoin mining. A major player within the bitcoin mining landscape, the company now aims to utilize its asset base for diversification towards AI hosting and high-performance computing infrastructure.