• Economy
  • Investing
Long Distance Investing
  • Stock
  • Editor’s Pick
Investing

Top 2 crypto mining stocks to buy as analyst forecasts Bitcoin hitting $200,000

by November 17, 2024
written by November 17, 2024

Bitcoin has celebrated the return of Donald Trump to the White House in recent weeks and the momentum is unlikely to fade anytime soon, as per BCA Research analyst Dhaval Joshi.

Joshi expects BTC to eventually be worth more than $200,000.

He sees Bitcoin as a non-confiscatable asset that accounts for under 10% of the total market for such assets. “As bitcoin’s share of this market increases, and the supply of bitcoins reaches its upper limit, bitcoin’s price has substantial upside,” he told clients in a recent research note.

Bitcoin mining stocks tend to be an incredible investment vehicle to play the expected strength in Bitcoin. They even outperformed BTC in bull markets before 2024.   

Having said that, here are the top 2 crypto mining stocks that are worth owning as BCA Research forecasts Bitcoin to hit $200,000 in the coming years.

CleanSpark Inc (NASDAQ: CLSK)

CleanSpark is a pure-play crypto miner that stands to benefit from a continued rally in Bitcoin.

The company based out of Henderson, Nevada more than doubled its revenue to $104 million and that momentum will likely get stronger only as BTC extends its gains in 2025.

Bitcoin price increase is typically a tailwind for crypto mining stocks at large as it tends to boost their profitability. Bitcoin miners earn rewards in Bitcoin for verifying transactions. So, when the BTC price rallies, their mining rewards are worth more.

But CLSK looks particularly well positioned to benefit from Bitcoin strength as it’s currently down about 45% versus its year-to-date high in late March.

CleanSpark stock does not, however, pay a dividend.

Riot Platforms Inc (NASDAQ: RIOT)

Riot Platforms has been a disappointment for its shareholders this year but that could change in the coming months as Bitcoin continues its journey towards the projected $200,000.

That’s because it currently owns and operates the largest Bitcoin mining facility in terms of developed capacity in North America.

“Riot has 1 GW+ energy assets and is positioned to be amongst the top three miners. Investors like miners for energy and AI optionality, but it’s time to buy bitcoin miners for the bitcoin trade,” Bernstein analyst Gautam Chhugani wrote in a recent note.

Donald Trump has already committed to all Bitcoin to be mined in the US. Riot stock could benefit as the 47th President of the United States delivers on that promise.

Riot Platforms came in 7.5% below experts’ forecast in its latest reported quarter.

But its stock remains worth owning as the management expects revenue to grow by 51% on average over the next three years.

Much like shares of CleanSpark Inc., Riot Platforms does not pay a dividend in writing either.  

The post Top 2 crypto mining stocks to buy as analyst forecasts Bitcoin hitting $200,000 appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
CoinList to develop the DePIN Market with the First DePIN Collaboration with U2U Network this Q4
next post
LATAM crypto update: Lemon launches virtual cards in Argentina, crypto ATM usage in Colombia grows 25%

You may also like

BC.GAME to host ‘Untamed Arena’ during TOKEN2049 Dubai,...

April 23, 2025

Keycard launches pre-sale for Shell: the most open,...

April 23, 2025

BA stock rises as Boeing reports smaller Q1...

April 23, 2025

US stocks surge at open: Dow climbs 2.4%,...

April 23, 2025

iExec launches 1M $RLC fund to support AI...

April 23, 2025

MEXC strengthens reserve backing with $390M asset increase

April 23, 2025

Oil prices rebound: what’s driving the rally and...

April 23, 2025

Silver rises with gold, but industrial demand outlook...

April 23, 2025

Lead Edge Capital founder Mitchell Green says recession...

April 23, 2025

Why is Toncoin price rising today?

April 23, 2025

BC.GAME to host ‘Untamed Arena’ during TOKEN2049 Dubai,...

April 23, 2025

Keycard launches pre-sale for Shell: the most open,...

April 23, 2025

BA stock rises as Boeing reports smaller Q1...

April 23, 2025

US stocks surge at open: Dow climbs 2.4%,...

April 23, 2025

iExec launches 1M $RLC fund to support AI...

April 23, 2025

MEXC strengthens reserve backing with $390M asset increase

April 23, 2025

Oil prices rebound: what’s driving the rally and...

April 23, 2025

Silver rises with gold, but industrial demand outlook...

April 23, 2025

Lead Edge Capital founder Mitchell Green says recession...

April 23, 2025

Why is Toncoin price rising today?

April 23, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Fortnite applies to launch on Apple’s App Store after Epic Games court win

      May 11, 2025
    • Cargo thieves are attacking the U.S. supply chain at alarming rates

      May 10, 2025
    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (681)
    • Editor's Pick (348)
    • Investing (4,555)
    • Stock (820)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: Longdistanceinvestings.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 Longdistanceinvestings.com

    Long Distance Investing
    • Economy
    • Investing
    Long Distance Investing
    • Stock
    • Editor’s Pick