Why Crypto Miners Could be One of the Most Overlooked Big Growth Industries of the Coming Bull (RIOT, PBTS, MARA, COIN, HIVE, MSTR, BTBT)

    Date:

    The bitcoin mining industry has the potential to be a major growth success in the coming years. There are a number of factors that could contribute to this growth, including:

    • The increasing popularity of bitcoin: Bitcoin is becoming increasingly popular as a form of payment and investment. This is leading to an increase in the demand for bitcoin, which could drive up the price of bitcoin and make it more profitable for miners to mine bitcoin.
    • The development of new mining technologies: New mining technologies are being developed that are more efficient and less expensive than older mining technologies. This could lead to a decrease in the cost of mining bitcoin, which could make it more profitable for miners to mine bitcoin.
    • The increasing availability of renewable energy: Renewable energy sources, such as solar and wind power, are becoming more affordable and accessible. This could lead to an increase in the use of renewable energy for bitcoin mining, which could make bitcoin mining more sustainable.

    If these factors continue to play out, the bitcoin mining industry could experience significant growth in the coming years. This could lead to new jobs, new investment opportunities, and a more sustainable way to mine bitcoin.

    However, there are also some challenges that the bitcoin mining industry faces. These challenges include the high cost of entry, the environmental impact, and the regulatory environment.

    Despite these challenges, the bitcoin mining industry has the potential to be a major growth success in the coming years. If the industry can overcome these challenges, it could provide a number of benefits to society, including new jobs, new investment opportunities, and a more sustainable way to mine bitcoin.

    With that in mind, we take a look below at some of the most interesting stocks ready to lead the cryptocurrency mining industry on its next bull trend.

     

    Riot Blockchain Inc. (Nasdaq:RIOT) focuses on mining Bitcoin, and through Whinstone, its subsidiary, hosting Bitcoin mining equipment for institutional clients.

    RIOT is expanding and upgrading its mining operations through industrial-scale infrastructure development and latest-generation miner procurement. Through Riot’s subsidiary ESS Metron, the Company engineers and manufacturers electrical equipment solutions for Bitcoin mining and other industries.

    Riot Blockchain Inc. (Nasdaq:RIOT) recently announced unaudited production and operations updates for March 2023. Riot produced 695 BTC, an increase of approximately 36% as compared to March 2022 production of 511 BTC. Riot held approximately 7,072 BTC as of March 31, 2023, all produced by the Company’s self-mining operations. Riot sold 675 BTC, generating net proceeds of approximately $16.7 million. Riot had a deployed fleet of 94,176 miners, with a hash rate capacity of 10.5 exahash per second (“EH/s”), as of March 31, 2023, which excludes 17,040 miners that are offline as a result of damage to Building G from the severe winter weather in late December in Texas.

    “Riot is proud to announce another strong month of production, mining 695 Bitcoin in the month of March,” said Jason Les, CEO of Riot. “This strong performance is a direct result of the hard work our team members have put in over the past two years, in order to get us near completion of our long-term expansion project at the Rockdale Facility. Upon completion of the final buildout and deployment of miners at our Rockdale Facility in April 2023, our teams will remain focused on maximizing operating efficiencies to further improve performance and results at the Rockdale Facility, and on the continued development of our new Corsicana Facility.”

    And the stock has been acting well over recent days, up something like 4% in that time.

    Riot Blockchain Inc. (Nasdaq:RIOT) managed to rope in revenues totaling $73.2M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of -8.2%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($309.6M against $112.1M).

     

    Powerbridge Technologies Co. Ltd. (Nasdaq:PBTS) is a relatively new and more speculative name on this list, but it appears to be lined up to make serious waves and deserves a close look.

    The company is engaged in SaaS solutions and Blockchain applications. The company provides technology solutions for the global trade industry, IoT platform services as well as intelligent fixtures and devices for smart city operations, supply chain platforms and social livestreaming services for the retail industry, metaverse and smart solutions for the travel and leisure industry, as well as crypto mining and digital asset operations.

    Powerbridge Technologies Co. Ltd. (Nasdaq:PBTS) recently announced its recent acquisition of 1,200 units of A1346 Avalon Bitcoin Miners. The investment aligns with the Company’s long-term strategy in the crypto market.

    The A1346 Avalon Bitcoin Miners with a hash rate of 104TH/s, are known for their high performance, stability, and ease of use.

    Stewart Lor, CEO of Powerbridge Technologies, commented: “We believe that this investment will help us expand our presence in the crypto market. As a leading provider of technology solutions, we will continue to explore new opportunities to accelerate our growth and bring values to our shareholders.”

    Powerbridge Technologies Co. Ltd. (Nasdaq:PBTS) has also recently affirmed its commitment to its shareholders with corporate actions to drive the company’s growth. “We continue to prioritize the financial interests of our entire shareholder base above all other concerns,” commented Lor. “We are confident that maintaining our uninterrupted status as a Nasdaq-listed stock is our most effective path to achieving both our near-term growth objectives and our long-term vision as an emerging global leader with diversified exposure to next generation technology verticals.”

     

    Hive Blockchain Technologies Ltd. (Nasdaq:HIVE) engages in building a bridge from the block chain sector to traditional capital markets. It also involves in the production of mined cryptocurrency like Ethereum around the clock.

    The company went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. The company defines itself as a growth-oriented technology stock in the emergent blockchain industry. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where it claims to source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards.

    Hive Blockchain Technologies Ltd. (Nasdaq:HIVE) recently announced the production figures from the Company’s global Bitcoin operations for the month of March 2023, with 282 Bitcoin produced, and a current BTC HODL balance of approximately 2,310 (as of March 31, 2023). On average the Company has continued to operate above 3 Exahash (“EH/s”) throughout March 2023 (all amounts in US dollars, unless otherwise indicated). HIVE produced 282 Bitcoin in the month of March 2023, from ASIC and GPU mining operations, representing an average of 91 Bitcoin Per Exahash, with an average hashrate of 3.09 EH/s; HIVE Produced an average of 9.1 BTC per day in March 2023; and HIVE has received over 5,600 BuzzMiners in its data centers, all of which are operating as of today;

    Frank Holmes, Executive Chairman of HIVE stated, “We are very happy to be producing 282 Bitcoin while difficulty has reached an all-time high. Additionally, our average daily HPC income has increased by 14% on average month over month, from February to March.”

    And the stock has been acting well over recent days, up something like 3% in that time.

    Hive Blockchain Technologies Ltd. (Nasdaq:HIVE) managed to rope in revenues totaling $19.4M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of -77.4%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($72M against $30.2M).

     

    Other key players in the bitcoin mining space include Marathon Digital Holdings Inc. (Nasdaq:MARA), Coinbase Global Inc. (Nasdaq:COIN), MicroStrategy Inc. (Nasdaq:MSTR), and Bit Digital Inc. (Nasdaq:BTBT).

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Chart

    Sign up for Breaking Alerts

    Share post:

    Popular

    More like this
    Related

    Imagine If We Could Annualize This Quarter…

    Many years ago, a very intelligent and experienced colleague...

    Waller Hawkishness Resists Accommodative Powell: Mar. 28, 2024

    Bond traders are reassessing their monetary policy expectations while...

    Hopping Into Q2 with Key Interim Data Events

    It has been a solid start to 2024 with...

    12,000 Calls Trade in Plains All American Pipeline, L.P. (Symbol: PAA)

    This morning over 11,800 January 17 ’25 calls traded...