The cryptocurrency market is in a slump after hitting a new all-time high on the date of President Trump’s inauguration, Bitcoin fell back below $80,000 early Friday morning. But coins themselves aren’t the only ones feeling the heat of this sell-off. The world’s largest cryptocurrency exchange stock, Coinbase Global (NASDAQ: COIN), saw share prices dip, trading near a 50-day low price of about $211 per share.
While crypto goes through boom-and-bust cycles, investors may want to take this opportunity to invite a few new blockchain-based picks to their portfolios. These four stocks provide exposure to emerging blockchain tech beyond Coinbase’s buying and selling platform.
MARA Mines Bitcoin, Record Earnings
MARA Holdings (NASDAQ: MARA) has analysts in shock after its most recent earnings release, reporting an EPS value of $1.24 per share. The digital mining asset company was anticipated to post negative earnings of about $0.32 per share. Despite this drastic earnings announcement, shares are still trading near a 52-week low, with a newly positive P/E ratio of 17.62.
MARA is another stock seeing a dip in share value due to the current crypto sell-off, though analysts don’t seem to expect this dip to be long-lasting. Analysts predict an estimated potential upside of 83.48%, almost twice the 45% projected upside of COIN. They are also projecting an additional 18.84% growth in earnings next year for another record-breaking release.
CORZ Steadily Rises Toward Positive EPS Estimates
Core Scientific (NASDAQ: CORZ) is another digital asset mining company that has had a more recent market introduction than MARA. Following a rough year of negative EPS reports, CORZ is approaching a positive EPS value again, reporting earnings of $0.01 per share on February 26th. This is significantly higher than the company’s anticipated EPS of $0.10 per share, indicating increasing profits.
Analyst predictions for CORZ are solid, with the company holding a solid “Buy” rating and an anticipated price upside of 72.64%. Ownership trends are equally as positive for this stock, with institutional investors snatching up more than $950 million in shares in the last quarter alone. With a one-year 188% increase in share prices, the current dip to $11 per share could be an exceptional value for growth investors.
CIFR Brings a Potential 100% Analyst Estimated Upside
Despite recent crypto market struggles, Cipher Mining (NASDAQ: CIFR) is another blockchain mining service showcasing robust growth. The company reported an EPS of $0.06 per share, beating expert estimates of -$0.10 per share. This earnings surprise represents a growth rate of 160%, though short interest did increase by 16.45% since last month.
While Cipher Mining is surely a pick with a higher risk-reward ratio, institutional investment trends paint a positive picture of the future. In the last quarter, institutional investors purchased $546 million in CIFR shares while selling just $23 million during the same time. This eclipses Q3 buying, which made up just $33 million in shares purchased another indication of increasing expectations.
Analyst estimates confirm this confidence, with experts giving CIFR a solid Buy rating. Consensus price targets set an estimated one-year share value of $8.31, representing a massive 107% potential upside due to the shares’ current slump.
Bitdeer Technologies Group Maintains a Buy Rating, Plenty of Upside Potential
Mining data center service and hash solution provider Bitdeer Technologies Group (NASDAQ: BTDR) is another Bitcoin-adjacent company offering solid fundamentals in the midst of a blockchain slump. Analysts predict an estimated 74% potential upside, with an estimated one-year share price of $21.18.
Institutional buying trends support this valuation, though the company’s most recent earnings came in under expectations. Q4 saw $319 million in institutional share purchases compared to $44 million sold, eclipsing last quarter’s purchase rate of $12 million. Before purchasing, investors should also note increasing short interest, which has increased by 9.6% since last month.
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The article "4 Blockchain Stocks That Aren’t Coinbase" first appeared on MarketBeat.
