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Promising Cryptocurrency Stocks Worth Watching - October 20th

Bitfarms logo with Business Services background

Key Points

  • Bitfarms, Galaxy Digital, HIVE Digital Technologies, Soluna, and Digi Power X are the top five cryptocurrency stocks to monitor, as they represent companies significantly involved in the crypto sector.
  • The selected stocks have shown high dollar trading volumes recently, making them notable for investors seeking exposure to the cryptocurrency market.
  • Investing in these stocks offers indirect exposure to cryptocurrencies while carrying different risks compared to directly owning the digital assets.
  • Five stocks to consider instead of Bitfarms.

Bitfarms, Galaxy Digital, HIVE Digital Technologies, Soluna, and Digi Power X are the five Cryptocurrency stocks to watch today, according to MarketBeat's stock screener tool. "Cryptocurrency stocks" refers to shares of publicly traded companies whose primary business or significant operations are tied to cryptocurrencies or blockchain technology—such as miners, exchanges, wallet and custody providers, payments firms, or companies that hold large crypto reserves. Stock market investors use these equities as a way to gain indirect exposure to the crypto sector, but they carry different risks and drivers (corporate governance, earnings, regulation and equity-market dynamics) than owning cryptocurrencies themselves. 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

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

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

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Should You Invest $1,000 in Bitfarms Right Now?

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.

View The Five Stocks Here

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