Crypto Stocks: 10 Best Public Stocks to Buy in 2023

• MicroStrategy owns 152,800 Bitcoin which is worth around $4.5 billion as of July 31, 2023
• It runs as a business intelligence software company rather than a crypto company although the stock now trades as a proxy to the price of bitcoin
• MicroStrategy stated on July 31, 2023 they may buy an additional $750M of bitcoin
• Because of MicroStrategy's vast bitcoin holdings, purchasing their stock is akin to owning bitcoin.

MicroStrategy, founded in 1989, provides business intelligence, cloud-based services and mobile software for enterprises. Michael Saylor, co-founder and former CEO of MicroStrategy, now runs the company as Chairman, a role that allows him to focus more on bitcoin evangelism. Several years ago Saylor decided purchasing bitcoin was the best use of his company's cash treasury funds.

As a result, MicroStrategy now holds more than $4B worth of bitcoin on its balance sheet and its stock previously went from $140 to a high of $800. He is known today in the crypto industry as a Bitcoin educator. Although MicroStrategy is not technically a crypto company, it is closely tied with Bitcoin given Saylor's involvement.

Microstrategy's stock tends to mimic the ups and downs experienced by the price of bitcoin. With the bitcoin halving approaching in 2024, analysts expect bitcoin could increase 3X. This could lead to a 6X increase in Microstrategy' stock price.

• Core Scientific filed for bankruptcy in December, 2022 and has been in bankruptcy since
• In July 2023, Core Scientific operated 210,000 miners representing a potential hash rate of 22.1 EH/s at centers in Georgia, Kentucky, North Carolina, North Dakota and Texas.
• In August 2023, Core Scientific appointed Adam Sullivan as new CEO as the former CEO Michael Levitt became the Chairman. his could be a good indicator that the company has a plan to emerge from bankruptcy soon.

Core Scientific is one of the largest crypto mining and hosting companies in the world. They went public via SPAC in January of 2022 and went as high as $14 with a $4B market cap. Unfortunately, they filed for bankruptcy on December 21, 2022 and the stock reached a low of 4 cents.

Core Scientific has a good chance of defying the odds and emerging from bankruptcy without wiping out the shareholders. If that happens, the stock could increase dramatically once the judge finalizes the terms. Smart investors have already started buying the stock as the price has increased from 10 cents to $1 in the last 6 months.

[NOTE] Beluga Insider Tip:

Core Scientific has a unique opportunity to emerge from bankruptcy without wiping out the shareholders. It entered bankruptcy in 2022 because the price of bitcoin was around $15K. Since this time the price has doubled and Core has become very profitable and started paying back some of its debt. The stock has recovered quite a bit from a low of 5 cents as smart traders are starting to see the potential of a recovery.

Bankruptcy proceedings are still going on, but there is a strong chance that they could emerge with a favorable outcome for the shareholders. For investors that believe strongly that the price of bitcoin is going to keep increasing, this stock should emerge favoriably from bankruptcy and the stock could run up. But a warning - very few stocks emerge well from bankruptcy.

• Riot has installed and deployed one of the largest fleets of mining hardware in the Bitcoin's mining industry
• Riot is known for having one of the most efficient mining operations and they can mine bitcoin cheaper than their peers
• Its current mining hash rate stands at 10.9 EH/s, and is expected to increase to 12.5 EH/s before the end of 2023

Riot Blockchain Inc. is one of the large-scale bitcoin mining companies in the United States, focusing predominantly on expanding its operations and increasing the hash rate of Bitcoin mining. Riot Blockchain seeks to capitalize on the increasing demand for cryptocurrencies and the underlying blockchain infrastructure by strongly emphasizing blockchain technology.

Riot reported a robust financial position as of Q1 2023, with a total cash buffer of $390 million, including digital assets. Moreover, the platform has no outstanding long-term debt, giving it a solid financial foundation for aggressive expansion and investment opportunities in the blockchain industry. Its 11% stake in Coinsquare, a prominent Canadian cryptocurrency exchange, was a notable acquisition. This investment demonstrates Riot's desire to diversify its portfolio outside of mining operations.

Riot Platforms Inc. has invested heavily on Bitcoin mining operations. The company has continuously expressed its interest to intensify Bitcoin mining operations through increased hash rate. Its stock price has increased significantly over the last twelve months, signaling a growing interest in Riot's stock by investors.

• Canaan is widely regarded as the second largest manufacturer of Bitcoin mining equipment behind Bitmain
• The stock has been very volatile since it went public in 2019

Canaan Inc. is a China-based corporation specializing in researching, designing and selling integrated circuit (IC) final mining equipment products for bitcoin mining. The company's products include mining equipment and other essential components for efficiently mining bitcoin and other cryptocurrencies.

Canaan's initial public offering (IPO) on November 21, 2019, made it one of the first crypto-related publicly traded corporations. The company's stock price has shown volatility, which is typical for companies in the cryptocurrency industry. The company has profited from the expansion of the cryptocurrency market and the rising demand for bitcoin mining. Canaan can capitalize on this trend as the demand for mining equipment increases as more individuals and institutions participate in mining.

With the increasing demand for mining hardware and software, Canaan Inc. is expected to shine in the crypto mining equipment industry. However, this is expected to change with the increased demand for mining equipment and the continuous expansion of the crypto market.

• Marathon has managed the crypto winter well and seems to be emerging as one of the industry leaders
• Marathon mined 1,176 BTC in the month of July of 2023 worth almost $35M. That's approximately a 600% increase in mining production year-over-year

Marathon Digital Holdings, one of the most significant Bitcoin mining companies in the United States, enables investors to partake in the Bitcoin ecosystem without the complexities of holding the asset directly.

The company's emphasis on sustainability and renewable energy sources aligns with the cryptocurrency industry's growing emphasis on environmental considerations. Marathon's commitment to minimizing its environmental impact can position it favorably among investors who prioritize responsible and sustainable investment practices as the sector evolves.

Marathon seems to have steadied the ship and has a chance to become the global leader as the halving approaches in 2024. They have a healthy balance sheet and a strong management team and the stock should continue to increase as the price of BTC increases.

• Hut 8 Mining lends bitcoin and employs yield farming strategies, which can result in compounded returns over time
• Environmental sustainability is becoming an increasing concern in the cryptocurrency industry and Hut 8 Mining has taken proactive measures to address these issues
• By utilizing renewable energy and relying on fossil fuels as little as possible, Hut 8 Mining intends to reduce its environmental impact

Hut 8 Mining is a notable Bitcoin mining company in Canada that has garnered investor popularity. As a significant participant in the Bitcoin network, Hut 8 Mining possesses a sizable minority stake, allowing it to profit from the expansion and potential of the cryptocurrency market.

Hut 8 Mining's robust cash flow relative to its revenue is one of its most notable strengths. Instead of promptly selling the bitcoins it mines on the market, the company utilizes a strategic approach to maximize shareholder returns.

• Stronghold Digital Mining Inc. is routinely inspected by Wall Street analysts who examine its financials in-depth and offer recommendations, including target share prices
• According to these analysts, the price target for Stronghold Digital Mining Inc. (SDIG) shares over the next 12 months is $15.67

Stronghold Digital Mining Inc. is a Bitcoin mining corporation focusing on environmentally friendly operations. Scrubgrass and Panther Creek are low-cost coal refuse power generation facilities in Pennsylvania where the company conducts mining operations. Using these facilities, Stronghold seeks to minimize its environmental impact while maximizing its mining efficacy.

Stronghold Digital Mining Inc. uses a unique approach to increase shareholder values while focusing on environmentally friendly operations. Over the last months, its stock prices have declined significantly signaling an alarming underperformance. A key point for investors to look at while making any investment decision.

• CleanSpark is in the Bitcoin mining industry and its energy software offerings. Bitcoin mining requires significant computational power and energy utilization. CleanSpark intends to leverage its expertise in energy management to create efficient mining.
• CleanSpark attempts to improve mining operations' profitability and environmental sustainability by incorporating its software solutions with Bitcoin mining hardware.

CleanSpark (CLSK) is a software and services company focusing on advanced energy software and control technology for microgrid and distributed energy resource (DER) environments. Additionally, the company provides hardware systems, such as switchgear and energy storage options. CleanSpark operates in the swiftly expanding microgrid and bitcoin mining markets.

CleanSpark's emphasis on advanced energy software and control technology positions it favorably in the rapidly changing energy landscape. Microgrids and distributed energy resources are gaining popularity as more businesses and communities seek to improve energy resilience, optimize energy consumption and integrate renewable energy. CleanSpark's software and services address these requirements by providing innovative solutions for decentralized management and optimizing energy systems.

Despite CleanSpark's recent troubles regarding its share price and high volatility, its business model is expected to grow in the coming months, indicating an upside potential. The Bitcoin mining industry is expanding and the demand for advanced energy software options is also increasing. Therefore, CleanSpark has positioned itself in a positive trajectory within the industry.

• Bit Digital's stock may be undervalued, with a projected fair value per share of $10.50 - it could attract investors pursuing opportunities for capital appreciation and believing in the industry's development potential
• The stock price prediction module indicates that Bit Digital's share price is anticipated to rise over a given investment horizon

Bit Digital is a bitcoin mining enterprise with operations in China and the United States. As a Bitcoin miner, the company's primary focus is securing the network and generating new currencies through mining. Bit Digital has positioned itself in the expanding cryptocurrency mining industry by leveraging its operations in the United States and China to capitalize on market opportunities.

Bit Digital's short-term technical score indicates that the stock is performing well and is a positive aspect to consider. It indicates that the stock has demonstrated positive price momentum or other favorable technical indicators in the short term, indicating its current market strength.