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Dec. 15, 2021, 6:28 p.m. EST

Bitcoin Stocks Are Back In Focus (HIVE, GYST, RIOT, MARA, BTBT, BITF, GBTC)

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The company has established itself as one of the most recognizable names in the crypto mining space at this point.

Marathon Digital Holdings Inc. /zigman2/quotes/205886758/composite MARA -7.68% recently announced unaudited bitcoin production and miner installation updates for November 2021, including news that cash on hand was approximately $623.7 million and total liquidity, defined as cash and bitcoin holdings, was approximately $1.1 billion, received approximately 15,520 top-tier ASIC miners from Bitmain during the month of November and 56,826 miners year to date with an additional 8,477 miners currently in transit, and miner installations at the Company’s facility in Hardin, MT, were fully completed, as well as scheduled upgrades and maintenance to the power generating facility in Hardin.

“In November, we completed the buildout of our mining facility in Hardin, MT, we began deploying miners with Compute North, and we made substantial progress improving our ability to effectively scale our operations in the coming months,” said Fred Thiel, Marathon’s CEO. “After expanding our agreement with Compute North, we have secured reliable hosting with renewable power, at industry low rates for the remainder of our previously purchased miners. By continuing to charter planes, we have reduced the average time to ship miners from 21 days with commercial cargo to only five. We now have enough miners on the ground in the United States to utilize Compute North’s new capacity as it becomes available in the coming months. And after closing an oversubscribed convertible note offering, we increased our total liquidity to $1.1 billion, which provides us with optionality to improve our efficiency and further scale our operations.

Even in light of this news, MARA has had a rough past week of trading action, with shares sinking something like -15% in that time. That said, chart support is nearby, and we may be in the process of constructing a nice setup for some movement back the other way.

Marathon Digital Holdings Inc. /zigman2/quotes/205886758/composite MARA -7.68% managed to rope in revenues totaling $51.7M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 6091.1%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($315.6M against $3.9M).

Other prominent stocks in the Bitcoin space include Hive Blockchain Technologies Ltd. /zigman2/quotes/208543683/composite HIVE -3.64% , Bit Digital Inc. /zigman2/quotes/203221927/composite BTBT -4.85% , Bitfarms Ltd. /zigman2/quotes/213738555/composite BITF -7.33% , and Grayscale Bitcoin Trust /zigman2/quotes/203330852/composite GBTC -2.45% .

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COMTEX_398992393/2555/2021-12-15T18:28:07

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/zigman2/quotes/205886758/composite
US : U.S.: Nasdaq
$ 6.85
-0.57 -7.68%
Volume: 9.10M
June 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$788.81 million
Rev. per Employee
$16.72M
loading...
/zigman2/quotes/205886758/composite
US : U.S.: Nasdaq
$ 6.85
-0.57 -7.68%
Volume: 9.10M
June 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$788.81 million
Rev. per Employee
$16.72M
loading...
/zigman2/quotes/208543683/composite
US : U.S.: Nasdaq
$ 3.44
-0.13 -3.64%
Volume: 1.52M
June 27, 2022 4:00p
P/E Ratio
1.75
Dividend Yield
N/A
Market Cap
$284.22 million
Rev. per Employee
$3.51M
loading...
/zigman2/quotes/203221927/composite
US : U.S.: Nasdaq
$ 1.57
-0.08 -4.85%
Volume: 1.64M
June 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$132.65 million
Rev. per Employee
$8.01M
loading...
/zigman2/quotes/213738555/composite
US : U.S.: Nasdaq
$ 1.39
-0.11 -7.33%
Volume: 1.97M
June 27, 2022 4:00p
P/E Ratio
7.62
Dividend Yield
N/A
Market Cap
$303.56 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/203330852/composite
US : U.S.: OTC
$ 13.51
-0.34 -2.45%
Volume: 5.40M
June 27, 2022 4:00p
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