Core Scientific Inc. (NASDAQ:CORZ) has been identified as one of the best bitcoin mining stocks to buy according to Hedge Funds. Analysts have projected a bullish market view for the company, with 12 out of 13 analysts assigning Buy ratings and 1 giving a Hold call. The median 1-year price target for Core Scientific Inc. stands at $28.27, indicating a potential upside of 81.6% from the current level.
Recently, Citizens JMP analyst Gregory Miller upgraded his rating on Core Scientific Inc., giving a Buy call with a target price of $30, which represents a promising upside potential of around 93%. The company has also been making strategic moves to transition towards AI-enabled data centers to diversify its income streams amidst the volatile crypto markets. Core Scientific has been actively securing deals with large AI businesses to gain quicker access to data centers instead of constructing them on their own, aiming to attract new deep-pocketed customers.
Core Scientific Inc. specializes in high-density computing solutions for large-scale bitcoin mining, utilizing purpose-built data centers for mining operations and hosting services for third-party clients. The company is currently focusing on expanding its revenue streams through competitive pricing for operational power, with a primary emphasis on AI-based services.
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In conclusion, Core Scientific Inc. continues to position itself as a key player in the bitcoin mining industry, with strategic initiatives in place to capitalize on the growing demand for AI-based services. Investors should carefully assess their investment strategies and consider the diverse range of opportunities available in the market.
