3 Blockchain Stocks to Buy Now: Q2 Edition


  • Gain exposure to the evolving crypto market through these leading blockchain stocks, sidestepping the usual tax and regulatory challenges.
  • Mastercard (MA): Mastercard is harnessing blockchain technology to redefine financial transactions, positioning it for more attractive gains ahead.
  • CleanSpark (CLSK): CleanSpark aims to double its hash rate to 20 EH/s by mid-2024 and target 50 EH/s, for a surge in post-BTC’s halving.
  • Applied Digital Corporation (APLD): With a strategic pivot from Bitcoin mining to focusing on AI and high-capacity computing, Applied Digital is looking to dominate the digital infrastructure sector.
Blockchain Stocks - 3 Blockchain Stocks to Buy Now: Q2 Edition

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Blockchain stocks may be a better way to play the cryptocurrency market than directly engaging. These stocks are of companies that effectively integrate blockchain technology across multiple industries, offering a more diversified exposure to investors.  Moreover, you can also sidestep all the regulatory roadblocks, liquidity troubles, and tax implications that aren’t as clear with cryptocurrencies.

Also, the growing excitement around Bitcoin’s (BTC-USD) upcoming halving event makes it an excellent time to gain exposure to the best blockchain stocks. Moreover, this sector will continue evolving and expanding at a breathtaking pace for the foreseeable future, making it appealing for those looking to supercharge their portfolios.

Mastercard (MA)

A close-up shot of Mastercard credit or debit cards.
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Fintech giant Mastercard (NYSE:MA) is looking to leverage the power of blockchain technology to usher in a new era of growth for its business. Through its strategic partnerships, the company is looking to redefine financial transactions through enhanced security and efficiency. Its forward-looking approach simplifies the banking process by directly connecting banks and speeding up transactions to cut costs and time.

Additionally, Mastercard’s multi-faceted blockchain strategy aims to significantly increase transparency across various industries through its novel Provenance solution. Furthermore, its Start Path program nurtures fledgling startups looking to make a mark in the blockchain realm, equipping them with the tools to manage digital transactions efficiently. Hence, Mastercard’s embrace of blockchain technology positions it as a frontrunner in financial innovation, adding new layers to its illustrious growth story. 

Mastercard doesn’t need blockchain to sustain its impressive business, which continues to generate double-digit growth across key top-and-bottom-line metrics. Moreover, it offers a stellar growing dividend that it has paid for the past 17 consecutive years.

CleanSpark (CLSK)

In this photo illustration, the CleanSpark (CLSK) logo seen displayed on a smartphone screen
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CleanSpark (NASDAQ:CLSK) is one of the top-performing Bitcoin miners over the past few years and is positioned attractively to take advantage of the upcoming halving event. The company is renowned for its stellar mining rates, and it is looking to expand its operational hash rates to a striking 20 EH/s by the first half of 2024, doubling its current capacity. Moreover, with Bitcoin ETFs driving up demand, CleanSpark’s proactive strategy positions it remarkably well to capitalize on the expected post-halving bull market.

Furthermore, the company seeks to secure up to 160,000 S21 miners to achieve a new industry-setting standard of 50 EH/s. Such aggressive expansion will enhance CLSK’s mining efficiency and significantly boost investor confidence, making it a remarkably attractive stock in the volatile crypto space. As we move closer to the halving event, the company’s forward-thinking approach can significantly influence its market standing and profitability position, making it a standout in its niche.

Applied Digital Corporation (APLD)

An image of blockchain; cubes of art and NFTs connected by a chain
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Applied Digital (NASDAQ:APLD) is a top contender in the burgeoning digital infrastructure realm. It is a high-growth business that focuses on artificial intelligence (AI) and high-capacity computing. 

The company recently sold off its 200-megawatt BTC mining campus to Marathon Digital (NASDAQ:MARA) to focus more on high-performing data centers in the future. It can manage these data centers more efficiently and is poised to expand its profit margins significantly.  

From a financial perspective, APLD continues to deliver superb results across both lines. Its sales have grown by triple-digit margins over the past several quarters, and estimates point to even stronger growth. Analysts expect APLD to continue making significant progress in achieving profitability over the next few years while growing sales by more than 200%

Moreover, with its name change from Applied Blockchain to Applied Digital, it’s opening a new chapter of dominance in the cutting-edge data center space. This strategy positions APLD to take full advantage of the fast-growing demand for sophisticated computing infrastructure, ensuring a promising future.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.

Article printed from InvestorPlace Media, https://investorplace.com/2024/04/3-blockchain-stocks-to-buy-now-q2-edition/.

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