NUGGETS OF ALPHA
Bitcoin mining is a "nuclear arms race" and a cutthroat business
Miners have been selling BTC to acquire mining rigs in preparation for the halving
If the BTC price is under $55,000 by April ‘24, half the miners could be forced to unplug due to lack of economic incentives
CleanSpark is buying two turnkey Bitcoin mining facilities for $9.3M
Hut 8 stock was up 19.6%, leading the rally of Bitcoin miners’ stocks
Marathon's BTC production is up 77% month over month and 366% year over year
CleanSpark forecasts the highest hashrate growth percentage in our analysis
CleanSpark is the worse offender of share dilution of the public miners
Argo has the least market cap per exahash produced as of June 2023
~70% of HUT's current market cap is the Bitcoin they have on their balance sheet
Argo is the standout winner of the IA Miner ROI ratio
Bitfarms was the overall winner of the IA Composite Score for miners
Cleanspark is runner up and Hive third.
As of the start of this lesson, Bitcoin’s price is at $30,030. The BTC proxies’ price action has gone wild as a result.
BTC = 81.33%+
ARBKF = 70.44%+ (under performing BTC)
The rest of the miners are outperforming BTC and we expect this to continue
This is why it is good to have some
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