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Promising Cryptocurrency Stocks To Add to Your Watchlist - October 23rd

Bitfarms logo with Business Services background

Key Points

  • Seven cryptocurrency stocks to watch include Bitfarms, Galaxy Digital, and HIVE Digital Technologies, with significant trading volume reflecting investor interest.
  • These stocks offer investors indirect exposure to the crypto market, but come with both company-specific and broader market risks.
  • Bitfarms specializes in cryptocurrency mining and operates datasets across multiple countries, enhancing its operational footprint.
  • MarketBeat previews top five stocks to own in November.

Bitfarms, Galaxy Digital, HIVE Digital Technologies, Digi Power X, Soluna, Bitcoin Depot, and ZenaTech are the seven Cryptocurrency stocks to watch today, according to MarketBeat's stock screener tool. Cryptocurrency stocks are publicly traded shares of companies whose business models or financial results are materially connected to cryptocurrencies — for example, miners, exchanges and custody providers, blockchain developers, payment processors that accept crypto, or firms that hold significant digital assets on their balance sheet. For stock market investors, these equities provide a way to gain indirect exposure to the crypto market within regulated equity markets, but they carry both company-specific and crypto-market risks that can amplify gains and losses. These companies had the highest dollar trading volume of any Cryptocurrency stocks within the last several days.

Bitfarms (BITF)

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.

Read Our Latest Research Report on BITF

Galaxy Digital (GLXY)

Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.

Read Our Latest Research Report on GLXY

HIVE Digital Technologies (HIVE)

HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd.

Read Our Latest Research Report on HIVE

Digi Power X (DGXX)

Digihost Technology Inc. operates as a blockchain technology company that focuses on digital currency mining in the United States. It mines for cryptocurrency. The company was incorporated in 2017 and is headquartered in Toronto, Canada.

Read Our Latest Research Report on DGXX

Soluna (SLNH)

Soluna Holdings, Inc. together with its subsidiaries, engages in the mining of cryptocurrency through data centers. It operates through two segments, Cryptocurrency Mining and Data Center Hosting. The company also operates in the blockchain business. In addition, the company develops and builds modular data centers that use for cryptocurrency mining.

Read Our Latest Research Report on SLNH

Bitcoin Depot (BTM)

Bitcoin Depot Inc. owns and operates a network of cryptocurrency kiosks in North America. Its customers can buy and sell bitcoin, litecoin, and ethereum cryptocurrencies using the BTM kiosk network and other services. The company also engages in the sale of cryptocurrency to consumers at a network of retail locations through its BDCheckout product offering, as well as its website through over-the-counter trade.

Read Our Latest Research Report on BTM

ZenaTech (ZENA)

ZenaTech, Inc., an enterprise software technology company, develops cloud-based software applications in Canada. It provides cryptocurrency wallets and cloud-based enterprise software solutions for the agriculture industry; cloud-based enterprise software solutions for the medical records industry; safety and compliance management software and mobile solutions; field management software and mobile solutions; integrated cloud-based enterprise software and hardware drone technology solutions for various industries; and browser-based enterprise software applications for public safety.

Read Our Latest Research Report on ZENA

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Before you consider Bitfarms, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bitfarms wasn't on the list.

While Bitfarms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

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