Analysts Pin High Hopes on Crypto Stocks for September

Three cryptocurrency-related stocks have caught the attention of analysts for their growth potential in September. Bit Digital, Hut 8 Corp., and Bitdeer Technologies are among them, with a strong consensus rating from Wall Street experts. According to TipRanks' Stock Comparison Tool, these companies offer exposure to various aspects of the crypto sector.

Bit Digital (BTBT) is shifting its focus from Bitcoin mining to Ethereum staking and other digital-asset infrastructure. The company has reported stronger-than-expected Q2 results, with revenue rising 25.1% year-over-year to $32.11 million. Analyst Brian Dobson reiterated his Buy rating on BTBT with a price target of $6, indicating an upside potential of 347.8%. Over the last three months, all three Wall Street analysts covering BTBT stock have rated it a Strong Buy.

Hut 8 Corp. (HUT) develops large-scale power infrastructure and builds data centers for energy-intensive applications such as Bitcoin mining and AI computing. The company's AI data-center portfolio has reached 949 MW of contracted IT capacity, with $26.6 billion of aggregate base-term contract value. Analysts have given HUT a Strong Buy rating over the last three months, with an average price target indicating an upside potential of 114.6%.

Bitdeer Technologies is expanding into AI and high-performance computing infrastructure through its recent acquisition of 200 acres of land in Texas for $100 million. The company will have about 255 acres and 742 MW of power capacity in Milam County after the deal. Analysts covering BTDR stock have given it a Buy rating, with one analyst holding out against this view.