3 Crypto Stocks To Watch As Bitcoin Hits New High

If there is one sector that has grown at an eye-watering rate over the course of the past few years then it is the crypto sector. Investors who may not be involved in actual digital assets might want to get into a sector that is growing rapidly by investing in stocks of companies that are involved in the crypto sector. Here is a look at three crypto-related stocks you could look into if you want to cash in on the fast-growing sector.

1 HUT8 Mining  (NASDAQ:HUT)

Bitcoin mining is an important and largely lucrative business and HUT8 Mining is currently one of the major players in that space. The HUT8 stock has also moved strongly this year so far and has managed to deliver gains in excess of 300%.

More importantly, the company is also looking to grow quickly, and coupled with the bullish trend in the crypto sector, the momentum in the HUT8 stock could continue to be strong. At this point, the company commands a power capacity of 109 megawatts but HUT8 is looking to expand that power to 144 megawatts by the end of this year. Moreover, at the end of June 2021, it had a cash balance of $92.7 million and its crypto holdings were valued at around $245 million at the end of August 2021. Hence, its financial condition remains quite strong.

2 Argo Blockchain (NASDAQ:ARBK)

Another crypto stock that could be worth adding to the watch lists at this point is the Argo Blockchain stock. The company is one of the major players in the crypto mining industry and it is also raising its capabilities rapidly.

Argo Blockchain has stated that it is looking to grow its capacity considerably and has targeted mining capacity to the tune of 1.7 ex-hash per second by the end of the fourth quarter of 2021. On the other hand, the company also held as many as 1836 Bitcoin tokens as of the end of September 2021. That also gives the company ample asset cushion to continue to fuel its growth.

3 Marathon Digital (NASDAQ:MARA)

Last but certainly not least, the Marathon Digital stock could be the crypto stock that could be added to the watch lists today. The stock has been one of the best performers in the crypto sector over the course of the past 12 months and has clocked gains of as much as 1700% during the period.

In addition to that, it is expanding its capacity as a crypto miner quite rapidly as well. In January this year, it had a hash rate of .18 EH/s but by the time the middle of 2022 comes along, Marathon Digital wants to have a mining capacity of 13.3 EH/s.