This Is What Barclays Wants You to Know About Bit Digital, Inc (BTBT)

Bit Digital, Inc (NASDAQ:BTBT) is one of the best AI stocks under $10 to buy now. Bit Digital shares have soared 20% over the past month, and analysts see the stock surging 120% over the next 12 months. Some 19 hedge funds are backing Bit Digital stock.

On June 9, Barclays identified Bit Digital, Inc (NASDAQ:BTBT) as one of the companies that stand to benefit from the AI infrastructure buildout. According to the firm, tech analysts expect significant increases in hyperscaler capital expenditure.

Barclays believes that Bit Digital is essential to the digital infrastructure expansion. Having quit Bitcoin mining last year, Bit Digital has become focused on providing cloud infrastructure to power AI workloads, the firm notes.

While Bit Digital has stepped up its participation in the digital infrastructure space and ditched Bitcoin mining, it remains involved in crypto. The company continues to build its Ethereum treasury. On May 28, it reported purchasing 8,568 Ethereum tokens for around $20 million. That purchase raised the company's Ethereum treasury holding to roughly 158,461.75 tokens. It turns out that the Ethereum network could benefit from the adoption of AI agents in crypto.

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/barclays-wants-know-bit-digital-202932542.html)