3 Crypto Mining Stocks to Buy for April 2022

  • Riot Blockchain (REASONS): One of the largest cryptocurrency miners with almost 5,000 Bitcoins on its balance sheet.
  • Marathon Digital Holdings (MARA): With $ 350 million in Bitcoin holdings, this is one of the largest cryptographic miners in the world.
  • Digital bit (BTBT): A less established player, but a novice in the world of cryptocurrency mining.

Cryptographic mining stocks are as interesting these days as the price of Bitcoin (BTC-USD) and other cryptocurrencies remain volatile.

After reaching $ 48,000 in mid-March, the price of Bitcoin fell below the key support level of $ 40,000 in mid-April, as market volatility continues to trigger stocks and cryptocurrencies. BTC fell to $ 39,785.68 on April 11, before recovering quickly and returning above the $ 40,000 mark. In early April, Bitcoin was really positive for the year. However, things continue to change rapidly for the entire cryptocurrency market.

Other digital tokens like Ethereum (ETH-USD), Solana (SOL-USD) e Cardano (ADA-USD) continues to make yo-yo up and down, sometimes by 10% or more in a single day. Volatility continues to wreak havoc on the actions of cryptocurrency miners, although some of the most established players manage to stand out for their technology, maturity, and success in accumulating large holdings of Bitcoin and other digital assets.

As changes in the April market continue, we look at three cryptocurrency mining stocks for investors to consider buying.

Ticker Company Current price
REASONS Riot Blockchain $ 14.97
MARA Marathon Digital Holdings $ 21.23
BTBT Digital bit $ 2.75

Crypto Mining Shares to Buy for April 2022: Riot Blockchain (RIOT)

Source: Shutterstock

Riot Blockchain (NASDAQ:REASONS) remains one of the largest and best-known cryptocurrency miners, accumulating nearly 5,000 Bitcoin is currently worth about $ 200 million.

The Castle Rock, Colorado-based company has grown exponentially in the last year. In 2021, Riot reported annual revenue growth of 1,433%, reaching $ 184.4 million compared to only $ 12 million in 2020. That growth did not help much in RIOT shares, which fell 70% in last 12 months. A key reason for the decline in stocks is the volatility of cryptocurrency prices. The other reason is that Riot Blockchain it remains unprofitable as it reported a net loss of $ 7.9 million throughout the past year.

However, the management of Riot Blockchain continues to focus on growth at all costs and seems pleased to ignore losses in the company’s balance sheet. Riot Blockchain it increased its mining operations by more than 440% last year and continues to add hundreds of Bitcoin to its balance sheet every quarter.

With its current operations running at or near full capacity, Riot Blockchain has begun to look around to a lesser extent. cryptographic miners for potential acquisitions, planning to increase their operations and cryptographic assets through the acquisition of potential competitors.

Marathon Digital Holdings (MARA)

Cryptocurrency bitcoin btc gold coin against the flag of the United States of America, USA.

Source: Voyagerix / Shutterstock.com

Marathon Digital Holdings (NASDAQ:MARA) has Bitcoin holdings worth more than $ 350 million based on current prices, and even higher than the Riot Blockchain treasure. The Las Vegas-based cryptocurrency miner managed to secure nearly 1,100 Bitcoin in the fourth quarter of 2021 alone, a 600% increase over the same period last year.

Marathon Digital now owns nearly 9,000 Bitcoins or about 80% more than its main competitor, Riot Blockchain.

Over the past year, Marathon Digital has earned $ 150.5 million in revenue, 3,320% more than the $ 4.4 million the previous year. Earnings per share in the fourth quarter of 2021 amounted to 36 cents, one cent more than analysts expected.

Among cryptographic miners, Marathon Digital is one of the owners. However, despite all its success, Marathon Digital shares have also been volatile this year as the prices of Bitcoin and other digital assets go up and down. To date, MARA shares have fallen 36%. In the last 12 months, the stock price has dropped by 60%.

Crypto Mining Shares to Buy for April 2022: Bit Digital (BTBT)

Digital Bit (BTBT stock): several rows of processors in a cryptographic mining farm.

Source: PHOTOCREO Michal Bednarek / Shutterstock

Actions of Digital bit (NASDAQ:BTBT) were more affected than most cryptocurrency mining actions over the past year. Over the past 12 months, BTBT shares have declined 82%, including a 54% decline so far this year. Bit Digital shares are now trading deep in the penny stock charts.

However, much of the decline stemmed from the fact that the miner previously had most of its operations in mainland China and was forced to take off and move after Beijing regulators declared cryptocurrency mining illegal last year. Last March, Bit Digital announced that 40% of its miners, nearly 10,500 people, had moved to North America.

Despite the upheaval, Bit Digital and its army of 27,000 miners continued to produce. To date, Bit Digital says it has extracted about 3,300 Bitcoins, currently worth $ 132 million. Although it is less than Riot Blockchain and Digital Marathon, it is still a substantial amount of Bitcoin extracted.

And while the company’s profits have been uneven to date, they are improving. In its latest quarter, Bit Digital reported revenue of $ 10.4 million. For its next quarter, Wall Street expects Bit Digital’s revenue to double to $ 25 million. Although it is a smaller and less established player, Bit Digital should be seen as a newcomer to the crypto world.

On the date of publication, Joel Baglole had no (directly or indirectly) any position in the values ​​mentioned in this article. The views expressed in this article are those of the writer, subject to InvestorPlace.com Publication guidelines.

Joel Baglole has been a business journalist for 20 years. He spent five years as a reporter for the Wall Street Journal, and also wrote for The Washington Post and Toronto Star, as well as for financial sites such as The Motley Fool and Investopedia.

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