Crypto mining is one of the hottest new trends as Bitcoin rises in price.
I personally buy Bitcoin using a trusted cryptocurrency exchange like Coinbase daily but I also hold Bitcoin mining stocks like Marathon Digital Holdings (NASDAQ: MARA).
Table of Contents
- What is Bitcoin Mining?
- What are Bitcoin Crypto Mining Stocks?
- Why Invest in Crypto Mining Stocks?
- Best Bitcoin Crypto Mining Stocks to Buy Right Now
- Are Bitcoin Mining Companies a Good Investment?
- Where to Buy Bitcoin Mining Stocks
What is Bitcoin Mining?
Bitcoin mining is how new Bitcoins circulate within the digital crypto system. Miners provide necessary power and solve mathematical equations to unlock Bitcoins as a reward.
Ever since the Federal Reserve began printing currency to ease the blow of the global pandemic, we’ve seen a surge in crypto mining companies who wish to profit from rising Bitcoin prices.
Most crypto miners deploy miners such as the Antmain s29 to mine Bitcoin at a specific hasrate. The higher the hashrate, the faster a miner can receive Bitcoin.
What are Bitcoin Crypto Mining Stocks?
Many investors are buying up Bitcoin crypto stocks like crazy but there is a ton of hidden value in these little known crypto mining companies.
Why Invest in Crypto Mining Stocks?
There are several reasons to consider investing in crypto mining stocks:
- Crypto miners can deploy hundreds of thousands of miners to mine dozens of Bitcoins every day
- Mined Bitcoins can be held by the crypto miner or sold into the Bitcoin market for a tidy profit
- Crypto mining takes a lot of energy and space to deploy many miners. Crypto mining stocks are a good alternative for investors who are interested in mining Bitcoin but don’t have the resources or time.
Best Bitcoin Crypto Mining Stocks to Buy Right Now
- Marathon Digital Holdings (NASDAQ: MARA)
- Riot Blockchain (NASDAQ: RIOT)
- Canaan (NYSE: CAN)
- Hut 8 (NASDAQ: HUT)
- Greenidge (NASDAQ: GREE)
Here’s a table of Bitcoin held by each mining company (According to BitcoinTreasuries.net):
|Marathon Digital Holdings||5,425|
1. Marathon Patent Group (NASDAQ: MARA)
Marathon Digital Holdings is probably my favorite Bitcoin mining stock because the company recently added Bitcoin to its balance sheet and plans to rapidly expand its current crypto mining operations.
Marathon purchased 4,812.66 BTC for a total investment of $150 million back in January 2021 and current holds 5,425 BTC.
Right now as of September 1, Marathon deploys 22,412 Antminer S-19 Pro miners but will expand to 103,060 by the end of Q1 2022. Marathon mines around 15 BTC daily but could mine over 100 Bitcoins per day once scaled to full capacity.
This could generate at least $90 million in monthly revenue and over $1 billion in annual revenue at current Bitcoin prices.
With just a $3 billion market cap, Marathon group is grossly undervalued in respect to its long term crypto mining output.
2. Riot Blockchain (RIOT)
Riot Blockchain is another Bitcoin miner with around 11,542 S-19 Pro Antminers in operation. Once Riot reaches full capacity, the company will have 37,642 miners by the end of 2021.
As of September 1st, Riot Blockchain holds 3,128 BTC that were all acquired via mining operations.
Riot is currently larger than Marathon Patent Group yet trades at a similar market cap.
With just a $3 billion market cap, Riot is grossly undervalued as well although I like Marathon’s more aggressive approach to mining.
3. Canaan (CAN)
Canaan is a China based crypto mining hardware manufacturer that sells mining machines to companies.
Canaan’s AvalonMiner1246 has received over 100,000 preorders from customers all over North America s crypto currency mining booms.
Canaan should see a massive boost in revenue because Bitcoin will continieto attract miners as BTC soars in price.
Just like the California gold rush attracted gold miners in the 1800’s, Bitcoin will attract more miners with rising valuations.
4. Hut8 (HUT)
Hut8 is one of the largest Bitcoin mining companies on the NASDAQ with more self-mined BTC holdings than any other publicly traded company.
In Q2 2021, Hut8 reached record quarterly revenue of $33.5 million and currently hold 4,450 BTC in its reserves.
5. Greenidge (GREE)
Greenidge went public via a merger with Support.com to help the company expand its Bitcoin mining output. The company bought 10,000 S19j Pro miners from Bitmain for its newly planned mining facility in South Carolina.
Are Bitcoin Mining Companies a Good Investment?
Yes. I fully believe Bitcoin will eventually hit $500,000 in the future and we’ll see an explosion of crypto innovations and new useful technologies.
Crypto miners can continue mining Bitcoin as it rises in price over time because each of these companies owns a large number of miners that constantly work to mine BTC.
Where to Buy Bitcoin Mining Stocks
You need a brokerage account to buy and sell crypto mining stocks. Here are some of my recommended stock trading apps: