The digital-asset and blockchain space is constantly in motion, and this week's jump in growth scores for three potentially under-the-radar players shows just how quickly the sector can heat up. Bit Digital Inc (NASDAQ:BTBT) and BTCS Inc (NASDAQ:BTCS) led the charge, with respective growth scores of 99.59 and 99.72, while DeFi Technologies Inc (NASDAQ:DEFT) followed close behind with an impressive score of 57.64.
Benzinga’s Edge Stock Rankings system assigns scores based on momentum, growth, value and quality. The growth score is a valuable metric for investors looking for accelerating growth opportunities.
The growth score for Bit Digital, a Bitcoin mining and AI cloud-infrastructure services firm, climbed 207% from 32.49 to 99.59 over the past week. With a market cap of $699.1 million, Bit Digital is currently trading below its 50-day and 200-day moving averages. Meanwhile, the Relative Strength Index (RSI) at 31.5 signals neutral conditions, while the Moving Average Convergence Divergence (MACD) hints at bearish momentum. Bit Digital’s Benzinga Edge Ranking growth score of 99.59, combined with its momentum score of 12.70, reflects high growth potential buried under softening momentum.
Recently, the company reported third-quarter earnings, posting an adjusted loss of 5 cents per share, missing the consensus estimate of a 1 cent-loss. In addition, the company reported sales of $30.50 million, beating the consensus estimate of $30.30 million.
HC Wainwright & Co. recently reiterated a Buy rating on Bit Digital and maintained a $7 price target
BTCS, a blockchain technology consensus solution provider, witnessed a robust growth score increase of 203% over the past week, moving from 32.91 to 99.72.
On Friday, BTCS reported third-quarter earnings. The company posted earnings per share of $1.48, beating the consensus estimate for a 2 cent-loss. BTCS also reported sales of $4.94 million, beating the consensus estimate of $3.00 million.
BTCS is currently trading below its 50-day and 200-day moving averages. The RSI at 41.7 indicates neutral conditions, while the MACD signals bullish momentum. A Benzinga Edge Ranking growth score of 99.72, alongside a value score of 57.36, underscores the company’s mixed fundamentals.
DeFi Technologies‘ growth score surged 449% from 10.50 to 57.64 over the past week. Bridging the gap between traditional capital markets and decentralized finance, DeFi Technologies currently trades below both its 50-day and 200-day moving averages. The RSI at 25.9 suggests oversold conditions, with the MACD signaling bearish momentum. DeFi Technologies’ Benzinga Edge Ranking growth score of 57.64, coupled with a value score of 45.15, reflects mixed fundamentals.
Defi also recently reported third-quarter results, reporting sales of $22.50 million, missing the consensus estimate of $42.94 million. The company also lowered its fiscal 2025 sales guidance from $218.60 million to $116.60 million, versus the consensus estimate of $172.43 million.
The aforementioned surges in growth scores underline the potential of these companies in the rapidly evolving digital asset and blockchain landscape. As these stocks continue to navigate the market turbulence, investors should keep an eye on their performance in the weeks ahead.
Price Action: At the time of writing, Bit Digital shares are trading 0.65% higher at $2.17, BTCS stock is trading 5.56% higher at $2.94 and Defi shares are trading 2.28% higher at $1.06, according to data from Benzinga Pro.
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