In this piece, we discuss the 9 Best Blockchain Infrastructure Stocks According to Analysts.
Recently, significant developments have taken place in the blockchain infrastructure space, with major advancements facilitating the development of tokenization infrastructure. As evidence of this, Nasdaq announced that it is collaborating with Payward, the parent company of cryptocurrency exchange Kraken, according to a Reuters report dated March 9, 2026.
The move is an epitome of traditional exchanges’ push to position themselves within the rapidly evolving blockchain financial ecosystem. The process of tokenization will convert traditional financial assets, including stocks, bonds, bank deposits, funds, and real estate, into crypto assets. Tokenization will enable trading of these assets on blockchain networks, allowing the integration of financial markets with digital asset infrastructure.
For the initial period, the exchange operator will focus on corporate actions, proxy voting, and shareholder engagement tied to tokenized securities.
Payward’s xStocks tokenization platform will be leveraged by Nasdaq to enable the seamless transfer of securities from traditional institutional trading systems to blockchain networks. In a separate move, the Nasdaq is extending the move beyond the U.S., partnering with Germany’s Boerse Stuttgart tokenization settlement platform to facilitate trading of blockchain-based equities across Europe.
Amid positive developments like these, the regulatory environment is also supportive of the blockchain infrastructure market. According to the latest Reuters report on updates from the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, banks are not liable to maintain supplementary capital for blockchain-based securities. The regulatory bodies emphasized that capital regulations shall remain technology-neutral.
With this backdrop in mind, we will now jump to our list of the 9 Best Blockchain Infrastructure Stocks According to Analysts.
Blockchain
Our Methodology
To compile the list of the best blockchain infrastructure stocks to buy according to analysts, we scanned across financial media and ETFs to extract a list of publicly traded companies operating in the blockchain ecosystem, focusing on firms directly involved in infrastructure, such as mining, data centers, hardware, and blockchain networks.
Next, we sorted the companies by upside potential based on consensus analyst price targets and selected the stocks with the highest expected returns. We also ensured that the final companies have solid analyst coverage, indicating meaningful interest from the investment community. Furthermore, we limited our selection to companies that have recently reported noteworthy developments likely to impact investor sentiment.
Note: All data was sourced on March 16, 2026.
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 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
9. Coinbase Global, Inc. (NASDAQ:COIN)
Coinbase Global, Inc. (NASDAQ:COIN) is one of the best blockchain infrastructure stocks according to analysts, reflecting its expanding role in global crypto trading and financial market infrastructure.
Coinbase Global, Inc. drew attention from analysts at Baird on March 17, 2026, who highlighted increased stablecoin activity and bolstered crypto sentiment. Due to these factors, the analysts significantly raised the price target on the stock from $165 to $215, while reiterating a “Neutral” rating. Furthermore, analysts say the company is benefiting from the recent crypto price appreciation and stablecoin tailwinds. However, they added that exchange trading volumes have remained weaker so far this quarter compared to Q1 2025.
Meanwhile, Coinbase Global, Inc. made an announcement on March 9, 2026, regarding regulated futures contracts, which have now been made available to users in 26 European countries through Coinbase Advanced. With this move, the company enables traders across markets to access crypto futures and equity-index futures such as the Mag7 + Crypto Equity index. Furthermore, traders can now also access perpetual-style contracts with up to 10x leverage on select products.
The step reflects Coinbase Global, Inc.’s goal to build an “everything exchange,” which is part of its plan to expand its derivatives offering beyond the U.S., while providing European investors with access to regulated trading venues.
Coinbase Global, Inc. delivers a trusted platform that is a compliant on-ramp to the onchain economy, enabling users to engage in various activities with their crypto assets across proprietary and third-party product experiences.
8. MARA Holdings, Inc. (NASDAQ:MARA)
MARA Holdings, Inc. (NASDAQ:MARA) is one of the best blockchain infrastructure stocks according to analysts.
MARA Holdings, Inc. enjoys the confidence of 60% of covering analysts who remain bullish on the stock as of March 17, 2026. A roughly 30% upside potential is implied by the consensus price target of $12. The sentiment holds as the company works toward a strategic transition to AI and hyperscale data center infrastructure.
At the same time, MARA Holdings, Inc.’s growth narrative is surrounded by near-term execution risks related to its evolving business model.
Analysts at H.C. Wainwright project a lower Bitcoin price outlook in 2026, prompting analysts to make adjustments to expected network hash rate growth. The firm acknowledged that the company’s long-term growth story will be enhanced by its partnerships with Starwood Capital Group and by the Exaion acquisition. However, they believe the long-term value hinges on large data center leases, which may take time to materialize. For FY26, the analysts trimmed their sales forecast from $954.80 million to $851.10 million. The firm downgraded the stock from “Buy” to “Neutral.”
The previous day, MARA Holdings, Inc. marked a key milestone by partnering with Starwood Capital Group and Starwood Digital Ventures. With this move, the company aims to convert energy-rich infrastructure sites into AI and enterprise data centers. Management targets roughly 1 GW of short-term IT capacity, while eyeing potential expansion beyond 2.5 GW.
MARA Holdings, Inc., a digital asset technology company, engages in Bitcoin mining. The company operates data centers, develops mining software, and generates energy from renewable sources and methane capture.
7. TeraWulf Inc. (NASDAQ:WULF)
TeraWulf Inc. (NASDAQ:WULF) earns a spot on our list of the best blockchain infrastructure stocks according to analysts.
As TeraWulf Inc. transitions from Bitcoin mining toward high-performance computing infrastructure, the company retains the confidence of all the covering analysts, who remain bullish on the stock. The consensus price target of $24 implies a 50% upside potential.
Against this backdrop, TeraWulf Inc. drew attention from analysts at B. Riley, who reiterated the firm’s “Buy” rating on the stock. At the same time, they raised the price target from $23 to $27 on March 2, 2026.
This update followed a similar action by analysts at Rosenblatt, who revisited the stock on February 27, 2026. The firm’s analysts believe the company experienced a transformational 2025 and is best-positioned to benefit from the AI boom. Analysts cited the pressure the company faced in the fourth quarter due to reduced Bitcoin mining exposure and higher operating expenses. However, the firm remains confident in TeraWulf’s ability to shift toward high-performance computing by monetizing its 2.2 GW power portfolio.
TeraWulf Inc. relies on nuclear, hydro, and solar energy to power and operate environmentally focused Bitcoin mining facilities in the U.S. The company is currently expanding into high-performance computing leasing through its Digital Asset Mining and HPC segments.
6. Riot Platforms, Inc. (NASDAQ:RIOT)
Riot Platforms, Inc. (NASDAQ:RIOT) is one of the stocks on our list of the best blockchain infrastructure stocks according to analysts.
Riot Platforms, Inc. boasts bullish analyst sentiment as of March 17, 2026, with all covering analysts maintaining “Buy” ratings on the stock. The stock’s upside remains healthy as well, with the $26 consensus price target implying over 75% upside potential. The company is marking a strategic shift toward high-performance computing infrastructure, which is earning analysts’ confidence in its longer-term growth outlook.
However, analyst sentiment at Needham was influenced by the company’s full-year results.
Analysts cited weaker-than-expected top and bottom line performance amid ongoing weakness in mining. The sluggish performance was also driven by higher-than-expected expenses, including SG&A. The firm’s analysts trimmed 2026 mining estimates to incorporate a lower Bitcoin price forecast for 2026. Accordingly, Needham cut its price target on the stock from $30 to $24, while reiterating a “Buy” rating.
For the full year 2025, Riot Platforms, Inc.’s revenue rose from $376.70 million in 2024 to $647.40 million. The top-line performance was driven by the $576.30 million Bitcoin mining revenue. Despite positive revenue growth, the company reported a GAAP net loss of $663.20 million and a non-GAAP adjusted EBITDA of $13.00 million.
Riot Platforms, Inc., a Bitcoin mining company, operates large-scale mining facilities and designs power distribution and electrical systems through its Engineering segments.
5. Cipher Digital Inc. (NASDAQ:CIFR)
Cipher Digital Inc. (NASDAQ:CIFR) earns a place on our list of the best blockchain infrastructure stocks according to analysts.
The current backdrop to the company’s outlook is marked by evolving analyst expectations and the company’s ongoing strategic transformation.
Cipher Digital Inc. was revisited by analysts at Keefe, Bruyette & Woods on March 11, 2026. The analysts cut their 2026 and 2027 revenue and EBITDA forecasts amid lower hash prices, higher spending, and the company’s expected close of its Bitcoin mining operations in 2027. They further added that investors are overexcited about the company’s existing leases and its 2026 leasing outlook. The firm trimmed its price target on the stock from $22 to $20, while reiterating an “Outperform” rating.
Copyright: pogorelovaolga / 123RF Stock Photo
Meanwhile, in its fourth-quarter and full-year 2025 earnings release, management unveiled the company’s rebranding from Cipher Mining to Cipher Digital. The move reflects Cipher Digital Inc.’s transition toward high-performance computing (HPC) data center development. Citing long-term leases with hyperscale customers, including Amazon, Alphabet, and Fluidstack, CEO Tyler Page said the company is experiencing a rapid evolution into a leading HPC data center developer.
Cipher Digital Inc. focuses on the development of industrial-scale data centers dedicated to high-performance computing and digital asset workloads. The company leverages expertise in power sourcing, engineering, and infrastructure to provide capacity for hyperscale computing demand.
4. CleanSpark, Inc. (NASDAQ:CLSK)
CleanSpark, Inc. (NASDAQ:CLSK) is one of the best blockchain infrastructure stocks according to analysts, reflecting growing confidence in companies building large-scale compute and energy platforms supporting digital assets.
On March 5, 2026, CleanSpark, Inc. provided its February operational update, which highlights the company’s continued expansion of its infrastructure platform.
CleanSpark, Inc. reported a production of 568 BTC in the month, featuring peak daily production of 23.84 BTC and average daily production of 20.29 BTC. The month also marked an operational hashrate of 50.0 EH/s, supported by a deployed fleet of 235,588 miners. As of the month’s end, the total Bitcoin holdings reached 13,363 BTC.
Furthermore, CleanSpark, Inc. finalized and took ownership of a second site in Texas. With this achievement, the company added 300 megawatts of ERCOT-approved capacity to its contracted power portfolio. Management expressed optimism over the expansion, which strengthens its role as a scaled owner-operator of power-dense digital infrastructure. The region boasts one of the most attractive energy markets, supporting the company’s expansion plans while helping it advance AI and high-performance computing initiatives.
CleanSpark, Inc. focuses on the development of large-scale Bitcoin mining and data center infrastructure across the U.S. The company utilizes low-cost energy and high-performance computing capacity to support blockchain and digital asset networks.
3. HIVE Digital Technologies Ltd. (NASDAQ:HIVE)
HIVE Digital Technologies Ltd. (NASDAQ:HIVE) earns a place on our list of the best blockchain infrastructure stocks according to analysts.
HIVE Digital Technologies Ltd. enjoys the confidence of approximately 90% of covering analysts, who remain bullish on the stock as of March 17, 2026. The consensus price target of $5.50 implies an upside potential of roughly 150% amid the company’s expanding AI compute and infrastructure strategy.
Amid the positive analyst sentiment, HIVE Digital Technologies Ltd. unveiled a strategic partnership on March 13, 2026. In collaboration with AMC Robotics Corporation, the company will advance AI-driven robotics compute infrastructure. Based on the deal, AMC Robotics will utilize Hive’s GPU-based AI cloud infrastructure to support the development, testing, and deployment of robotics applications. Together, both companies will explore opportunities across AI optimization, data processing, and infrastructure scalability.
Earlier, analysts at Rosenblatt revisited HIVE Digital Technologies Ltd., extracting confidence from the company’s expansion into Paraguay, which has strengthened its mining business despite hash price headwinds. The firm also believes the company is well-positioned to navigate the challenging environment, thanks to improved hash costs and increased scale. Meanwhile, the firm adjusted its price target on the stock, basing it on 11x the firm’s fiscal 2028 adjusted EBITDA estimate. Rosenblatt trimmed its price target on the stock from $6.50 to $4.50, while reiterating a “Buy” rating in mid February.
HIVE Digital Technologies Ltd. leverages green energy to power data centers and cryptocurrency mining facilities. The company is also expanding GPU-based AI computing infrastructure to serve enterprise workloads across blockchain, AI, and high-performance computing markets.
2. Bit Digital, Inc. (NASDAQ:BTBT)
Bit Digital, Inc. (NASDAQ:BTBT) earns a place on our list of the best blockchain infrastructure stocks according to analysts.
As of March 17, 2026, all covering analysts remain bullish on Bit Digital, Inc., with a $5.75 consensus price target indicating 150% upside potential. Analysts remain confident in the company’s growing Ethereum-focused strategy and digital infrastructure exposure.
Reinforcing positive analyst sentiment, Bit Digital, Inc. released its February 2026 Ethereum (ETH) treasury and staking metrics on March 5, 2026. As of the month’s end, the company boasted roughly 155,434 ETH, which translated into approximately $305.4 million based on a $1,965 closing price and an average acquisition cost of $3,045 per ETH.
During the month, Bit Digital, Inc. actively deployed 138,269 ETH into staking, earning 313.9 ETH in rewards, which translated into an annualized yield of roughly 2.7%. As of February-end, the company had 324.8 million shares outstanding and owned roughly 27 million WhiteFiber (WYFI) shares, valued at $455.7 million. The update reflects the company’s diversified digital asset portfolio.
Bit Digital, Inc. focuses on providing digital asset mining, Ethereum staking, cloud computing, and colocation services. With these services, the company supports AI and machine learning workloads. At the same time, the company focuses on building long-term exposure to Ethereum infrastructure and high-performance computing.
1. Canaan Inc. (NASDAQ:CAN)
Canaan Inc. (NASDAQ:CAN) earns a place on our list of the best blockchain infrastructure stocks according to analysts.
On March 3, 2026, an insider transaction occurred that signaled confidence in the company’s long-term growth narrative.
The company’s chairman and CEO, Nangeng Zhang, alongside CFO Jin Cheng, made an open-market purchase of shares. Together, they bought 1,456,547 American Depositary Shares with an average price of $0.51 per ADS. Zhang expressed strong confidence in the company’s long-term vision and opportunities.
The executives added that the stock is undervalued, not reflective of Canaan Inc.’s (NASDAQ:CAN) strong technology, strategy, and growth potential.
Nangeng Zhang commented,
“My recent share purchases reflect my strong conviction in Canaan’s long-term vision and the opportunities ahead. Both James and I believe our current market valuation does not fully reflect the strength of our technology, strategy, and growth potential, and we remain confident in the value we are building for shareholders.”
Meanwhile, on March 10, 2026, Canaan Inc. released its February update, where it reported production of 86 BTC, bringing its cryptocurrency treasury to 1,793 BTC and 3,952 ETH, which combine to be valued at roughly $128 million. Reflecting on the month’s update, Zhang attributed the results to the company’s strategy of integrating energy resources, expanding its U.S. footprint, and scaling operations in strategically opportunistic markets.
Canaan Inc. focuses on the development and sale of Bitcoin mining machines and related services. At the same time, the company is expanding its global mining operations and energy integration strategy by growing its focus on efficient and environmentally conscious cryptocurrency mining infrastructure.
