NUGGETS OF ALPHA
Leading the pack in year-to-date 2023 performance is the Valkyrie Bitcoin Miners ETF, boasting a remarkable +227% increase.
Over the course of this month, there has been a decline in the Bitcoin hashrate.
The past 30 days have witnessed an uptick in the selling of BTC by miners.
Spearheading the market in both hashrate and prospective growth are MARA, RIOT, and CLSK.
HUT is anticipated to experience substantial growth in its hashrate in the immediate future.
MARA commands an impressive monthly mining rate of 1,176, closely followed by CLSK at 575.
BITF, RIOT, CLSK, DMGI, CIFR, and HIVE fall within a favorable range of liability and market capitalization.
The failure of BTC's price to reach $55K by the halving event could spell significant trouble for a number of these miners.
While holding BTC proxies, it's prudent to avoid exceeding 10% allocation in any single asset.
Bitcoin mining proves to be a fiercely competitive industry characterized by substantial initial expenses.
Examining miners ranks among the most intricate pursuits, given the multitude of variables that necessitate consideration. Every miner is characterized by its distinct equipment age, electricity expenses, power transmission costs, staffing outlay, real estate expenditures, decisions regarding HODLing or BTC liquidation, as well as the configuration of their balance sheets.
The metrics within this analysis are dynamic and shift as the miners appreciate in worth, as I anchor all assessments in relative value. While a particular company might exhibit superior effectiveness and efficiency in their operations, their current valuation could be comparatively higher. In the realm of investment, the goal is to pinpoint entities capable of delivering optimal value for the resources invested.
Let’s start with a chart of the results in the top 15 EFTs and ETPs, which are all crypto-related. The number one performer this year is Valkyrie Bitcoin Miners, with a year-to-date return of 227.74%.
The IA team has been hammering a new IA Miner Model out for months to assist in the production of our monthly miner YouTube videos, and now we are ready to showcase what it can do!
This list continues to grow with several new
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