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Bitcoin (BTC) mining heavyweights Marathon Digital and Riot Platforms are among the most overvalued crypto mining companies relative to their competitors, says MinerMetrics founder and analyst Jaran Mellerud.The key metric backing Mellerud's claim is enterprise value-to-sales ratio — measuring a company's value to its sales revenue. The higher the ratio,
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Bitcoin miners Marathon Digital, Riot Platforms, and CleanSpark recorded strong Bitcoin production increases in September, leading to a small boost in share prices on Oct. 4.The firm’s balance sheets also strengthened despite Bitcoin’s price (BTC) recording another month of sideways movement — hovering between the $25,100 and $28,500 mark.Marathon's Bitcoin
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At press time, bitcoin was holding at $27,300, up 3.1% over the past 24 hours. Coming later this week is a rate-setting meeting for the U.S. Federal Reserve. The central bank is almost universally expected to hold its benchmark fed funds rate steady at 5.25%-5.50%. Source
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Texas Bitcoin miners have cut back 90% of their operations during the energy crisis after the state offered $31.7 million in energy credits. Amid an escalating power crisis driven by extreme weather conditions, Texas has turned to an unlikely ally for energy conservation: Riot Platforms, a major Bitcoin (BTC) mining firm. The
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Bitcoin miner Riot Platforms mined fewer Bitcoin in August than July but received over $31 million in power credits. That is the equivalent of around 1,136 Bitcoin (BTC), CEO Jason Les pointed out in a statement.Riot received an estimated $24.2 million in power curtailment credits under its contract with Texas grid
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Among publicly-traded crypto names moving higher are Coinbase (COIN), up 13% and MicroStrategy (MSTR), up 9%. The thoroughly roughed-up miners are posting even bigger moves, with Marathon Digital (MARA) ahead 24%, and Riot Platforms (RIOT) and Hut 8 Mining (HUT) each gaining 16%. Original Source
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Bitcoin (BTC) miners are moving into new business areas, including offering high performance computing (HPC) services to the fast growing artificial intelligence (AI) market, to reduce their dependence on crypto, JPMorgan (JPM) said in a research report Wednesday, Source
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Bitcoin mining has been up by a considerable fraction this year, as the blockchain network recorded a new all-time high in hash
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin miner Riot has unveiled its financial results for Q2 2023, reporting a total revenue of $76.7 million. The results highlight the company’s resilience in a fluctuating market, with a 27% increase in Bitcoin production contributing
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Colorado-based Bitcoin mining firm Riot Platforms narrowed its second quarter net loss to $27.7 million as it ramped up its Bitcoin production and reached record hash rate capacity. The crypto miner posted total revenue of $76.7 million — up 5.2% from Q2 2022 — which was primarily driven by a
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