Noble Financial Maintains a Buy on Bit Digital (BTBT), Sets a PT of $5.50

Bit Digital, Inc. (NASDAQ:BTBT) is one of the top bitcoin mining stocks to buy amid bitcoin hike. On July 18, Noble Financial analyst Joe Gomes maintained a Buy rating on Bit Digital, Inc. (NASDAQ:BTBT) and set a price target of $5.50.

Is Bit Digital, Inc. (BTBT) the Best AI Stock to Buy Under $10?

A team of technicians working on a server of bitcoin mining equipment in a data center.

On July 18, Bit Digital, Inc. (NASDAQ:BTBT) announced the purchase of approximately 19,683 Ethereum using the net proceeds from its recently completed $67.3 million registered direct offering to institutional investors. After the transaction, Bit Digital, Inc. (NASDAQ:BTBT) holds around 120,306 ETH.

Headquartered in New York City, Bit Digital (NASDAQ:BTBT) is a holding company that provides a platform for digital assets and AI infrastructure. Its Bitcoin mining operations are spread through the US, Canada, and Iceland.

While we acknowledge the potential of BTBT 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 BTBT 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.