AI-related investment is drawing massive capital into digital infrastructure, and the same appetite for computing power is keeping interest in crypto rails and blockchain plumbing alive. Large public funds targeting data and digitization are looking for the tools that move value as easily as data. That is where crypto infrastructure stocks come in. This article walks through three listed plays from our crypto and blockchain shortlist worth having on your radar.

The three stocks below are a small sample, and the full screen surfaced 20 more cryptocurrency and blockchain companies with equally compelling stories that are not covered here. To identify and analyze the highest conviction ideas in this theme, go straight to the Top Cryptocurrency and Blockchain Stocks screener.

Riot Platforms (RIOT)

Riot Platforms is one of the purest crypto infrastructure plays in this shortlist, since its large scale Bitcoin Mining segment directly secures the Bitcoin network while its engineering arm supplies power equipment into data centers and industrial projects.

Riot Platforms runs U.S. Bitcoin mining facilities that support the Bitcoin network and offers data center hosting, while its engineering segment designs and manufactures electrical and power distribution gear. Bitcoin Mining produced about US$473 million in revenue versus roughly US$176 million from Engineering, and the group carries a market cap of about US$6.8b.

The analyst consensus Narrative on Simply Wall St frames Riot Platforms as a miner turning its infrastructure into an AI data center landlord, then backing that up with one clear example.

"Riot Platforms is building on its earlier plan to grow a scalable data center business by locking in a 20-year, 191 MW lease with a frontier AI lab and expanding AMD's lease to 50 MW. This supports expectations for higher recurring revenue and operating lease margins as contracted data center revenue of about US$9.8b flows into earnings over time."

"Riot Platforms is building on its earlier plan to grow a scalable data center business by locking in a 20-year, 191 MW lease with a frontier AI lab and expanding AMD's lease to 50 MW. This supports expectations for higher recurring revenue and operating lease margins as contracted data center revenue of about US$9.8b flows into earnings over time."

The real swing factor is how a single financing and execution choice shapes the gap between those projected lease flows and actual long term margins.

That financing choice is exactly what sits at the heart of the full narrative for Riot Platforms, which unpacks how Riot Platforms' data center pivot could reshape risk and upside.

Applied Digital (APLD)

Applied Digital builds and runs power hungry data centers for high performance computing and AI, and its roots in energized hosting for crypto mining customers keep it firmly in the crypto and blockchain theme. Most revenue comes from the HPC Hosting segment at about US$622 million, with about US$154 million from Data Center Hosting, and the business is valued at roughly US$5.0b.

For crypto focused investors, Applied Digital matters because it ties specialized mining infrastructure to a much larger AI and high performance computing hosting platform. The analyst consensus Narrative on Simply Wall St captures how that mix of long contracts and heavy funding needs can shape returns.

"The long-term leasing agreements that Applied Digital has signed with Tier 1, investment-grade hyperscalers now total about US$36b of contracted lease value across 1.41 GW of IT load under mainly 15-year take-or-pay structures. Applied Digital carries about US$6.4b of debt and recently reported quarterly interest expense of US$77.4 million that was higher than its US$65.8 million of base rent revenue."

"The long-term leasing agreements that Applied Digital has signed with Tier 1, investment-grade hyperscalers now total about US$36b of contracted lease value across 1.41 GW of IT load under mainly 15-year take-or-pay structures. Applied Digital carries about US$6.4b of debt and recently reported quarterly interest expense of US$77.4 million that was higher than its US$65.8 million of base rent revenue."

The real test for Applied Digital's crypto linked hosting story is what happens to future margins if a single pressure point in its funding plan shifts.

If that funding pressure point is what you care about most, the full narrative for Applied Digital shows how Applied Digital's contract engine could still accelerate or stall.

Nu Holdings (NU)

Nu Holdings brings the crypto theme into everyday banking through NuCrypto, which sits inside a broader digital platform that spans cards, accounts, lending and insurance. According to kabz2342, an investor in the Simply Wall St Community, the real story starts with how that ecosystem scaled so fast.

"The Central Bank of Brazil (Banco Central do Brasil) has watched Nu's rise with a mixture of admiration and caution. In late 2025, it issued new requirements that will compel Nubank to obtain a full banking license in Brazil by 2026."

"The Central Bank of Brazil (Banco Central do Brasil) has watched Nu's rise with a mixture of admiration and caution. In late 2025, it issued new requirements that will compel Nubank to obtain a full banking license in Brazil by 2026."

What happens to Nu Holdings' rich profitability and NuCrypto's role in the app depends on how one unseen regulatory pressure ultimately lands.

Nu Holdings runs a digital banking platform across Latin America, with NuCrypto giving app users direct access to cryptocurrency trading inside that toolkit. Banking activities generated about US$8.4b in revenue, and the group carries a market value near US$58.4b.

If that pressure eases in Nu Holdings' favor, the full narrative for Nu Holdings shows how regulation, NuCrypto engagement and profitability could be quietly decoupling from the obvious risks.

Seeking Alternatives Before The Crowd

Fresh ideas move first, and slower money often gets caught chasing momentum once prices are already flying. Scan curated opportunities while it matters, under the radar for now, and aim to act early.

  • Identify cash-generating underdogs at an early stage by scanning the 32 high quality undervalued stocks before that quality becomes widely recognized and entry points move out of reach.

  • Follow the next phase of the AI buildout by tracking infrastructure players in the 53 AI infrastructure stocks while they are still priced as supporting roles.

  • Focus on potential income opportunities by monitoring the 6 dividend fortresses before yield-focused investors move in and change the landscape for today's quieter ideas.

Identify cash-generating underdogs at an early stage by scanning the 32 high quality undervalued stocks before that quality becomes widely recognized and entry points move out of reach.

Follow the next phase of the AI buildout by tracking infrastructure players in the 53 AI infrastructure stocks while they are still priced as supporting roles.

Focus on potential income opportunities by monitoring the 6 dividend fortresses before yield-focused investors move in and change the landscape for today's quieter ideas.

This article is general in nature and was produced with the assistance of AI automation, based on data and analysis from Simply Wall St. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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