Investing in crypto stocks offers a way to gain exposure to the digital asset market without directly purchasing cryptocurrencies.

Beyond tracking Bitcoin (BTC) and Ethereum (ETH) prices, some publicly traded companies could benefit from rising mining activity, growing institutional adoption, and expanding blockchain-related businesses.

Against this backdrop, Finbold has identified two stocks with speculative upside over the next 12 months that could potentially turn a $10 investment into $100.

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Canaan (NASDAQ: CAN)

Canaan (NASDAQ: CAN) could benefit from a recovery in Bitcoin prices and renewed demand for mining equipment.

The company designs and manufactures application-specific integrated circuit (ASIC) mining machines while operating its own Bitcoin mining infrastructure. 

CAN shares were trading at $0.20, down 73% in 2026, leaving considerable room for a speculative recovery.

For CAN shares to deliver a 10-fold return, they would need to climb from approximately $0.20 to $2 within a year.

Canaan’s second-quarter 2026 results showed revenue of $31.9 million, down from $62.7 million in the previous quarter. Product revenue declined to $13.6 million, while mining revenue reached $17.7 million.

Nevertheless, the company has continued expanding its mining operations. Its September update showed that it held 1,875 BTC, mined 44 Bitcoin during the month, and maintained approximately 10 exahashes per second (EH/s) of installed non-joint-venture computing power.

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Canaan repurchased 16.4 million ADSs for $7.4 million as of September 8, using proceeds from selling part of its cryptocurrency holdings. The company will report its third-quarter results on November 10.

Bit Digital (NASDAQ: BTBT)

Bit Digital (NASDAQ: BTBT) offers exposure to Ethereum and artificial intelligence (AI) infrastructure.

Unlike traditional Bitcoin miners, the company has increasingly shifted its strategy towards accumulating and staking Ethereum while expanding its AI and high-performance computing (HPC) operations through its majority-owned WhiteFiber subsidiary.

As of September 30, 2026, Bit Digital held approximately 163,725.9 ETH, providing substantial exposure to the cryptocurrency’s price performance.

Its second-quarter results showed progress in its infrastructure business. Revenue reached $32.1 million, up 15% from the first quarter, while gross profit totalled $18.6 million, representing a gross margin of 57.9%.

Cloud services revenue increased 42% quarter over quarter to $23.8 million, supported by new customer contracts and expanded services.

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The company also reported approximately $1 billion in remaining performance obligations at the end of June, providing visibility into future contracted revenue.

Bit Digital is scheduled to release its third-quarter results on November 12, 2026. The report could provide further insight into its Ethereum treasury strategy and the contribution of its expanding AI infrastructure operations.

At the current price of $0.85 per share, BTBT would need to climb to $8.50 to deliver a 10-fold return within 12 months.

However, its quarterly losses, financing obligations, and exposure to cryptocurrency price fluctuations remain important risks.

Featured image via Shutterstock

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