H.C. Wainwright Maintains a Buy on BitFuFu Inc. (FUFU), Retains a PT of $7

BitFuFu Inc. (NASDAQ:FUFU) is one of the top strong buy stocks under $5 to buy now. H.C. Wainwright analyst Kevin Dede maintained a Buy rating on BitFuFu Inc. (NASDAQ:FUFU) on August 19, retaining a price target of $7.00.

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A close up view of a final mining equipment used in bitcoin mining.

The analyst based the rating on the company’s growth potential and strong performance, stating that its recent revenue surge suggests a robust market position, supported by a rise in cloud-mining demand and notable growth in network hashrate.

Although not available in the US, BitFuFu Inc. (NASDAQ:FUFU) holds the potential to attract a rising number of customers, which the analyst considers a significant indicator of its appeal to crypto enthusiasts. This holds especially true in North America, where operations are expanding.

BitFuFu Inc. (NASDAQ:FUFU) provides digital asset mining and cloud mining services. It functions through an array of stable and intelligent digital asset mining solutions, including one-stop cloud mining services and miner hosting services to individual digital asset enthusiasts and institutional customers. The company also offers a compliant, secure, and transparent blockchain infrastructure.

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

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Disclosure: None. This article is originally published at Insider Monkey.