SPAC Deep Dive, subSPAC

subSPAC

SPAC Deep Dive

Each week we’ll identify and break down for you SPACs that are capturing market share and making an impact.

Thematic (Sector/Industry)

<ul><li>With cryptocurrency prices skyrocketing over 10x since 2020, a host of mining companies, including PrimeBlock, Core Scientific, BitFuFu, Bitdeer, Griid, and Cipher Mining, have either announced or made their public market debuts through SPAC mergers.</li><li>Surging crypto prices, combined with a shortage of ASIC miners (cryptocurrency mining equipment), meant that investors chose to pursue publicly traded mining stocks as an alternative to pursuing the profitable opportunity.</li><li>However, several factors could dampen the interest in crypto mining companies going forward, including fears of extended crypto winter, heightened regulatory scrutiny regarding mining practices, and deteriorating sales &amp; margins.</li></ul>

With cryptocurrency prices skyrocketing over 10x since 2020, a host of mining companies, including PrimeBlock, Core Scientific, BitFuFu, Bitdeer, Griid, and Cipher Mining, have either announced or made their public market debuts through SPAC mergers.Surging crypto prices, combined with a shortage of ASIC miners (cryptocurrency mining equipment), meant that investors chose to pursue publicly traded mining stocks as an alternative to pursuing the profitable opportunity.However, several factors could dampen the interest in crypto mining companies going forward, including fears of extended crypto winter, heightened regulatory scrutiny regarding mining practices, and deteriorating sales &amp; margins.

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hut-8-mining-corp" target="_blank" data-smartkarma-citation="entities:35864:1" rel="noopener">Hut 8 Mining (HUT US)</a>  is a cryptocurrency mining company headquartered in Toronto, Canada. Crypto miner has two facilities in operation: Drumheller and Medicine Hat in Alberta.</li>
<li>In 2017, Hut 8 Mining established a partnership with Bitfury Group to acquire, install, maintain and operate Bitcoin mining data centers in North America. </li>
<li>We like the company’s solid balance sheet with 6,769 BTC held as of Apr-22, the opportunity to add an extra 100MW capacity in North Bay and the acquisition of TeraGo. </li>
</ul>



Hut 8 Mining (HUT US)  is a cryptocurrency mining company headquartered in Toronto, Canada. Crypto miner has two facilities in operation: Drumheller and Medicine Hat in Alberta.
In 2017, Hut 8 Mining established a partnership with Bitfury Group to acquire, install, maintain and operate Bitcoin mining data centers in North America. 
We like the company’s solid balance sheet with 6,769 BTC held as of Apr-22, the opportunity to add an extra 100MW capacity in North Bay and the acquisition of TeraGo. 


Hut 8 Mining: North Bay Mining Site Will Add 100MW Capacity in Ontario

<ul>
<li>Bitcoin mining is booming in the United States and we expect ~2.5 GW of new cumulative mining capacity will be added by crypto mining companies in the U.S. this year. </li>
<li>Today, Foundry USA is the biggest mining pool globally, and North America has been the clear beneficiary of China’s cryptocurrency ban in 2021.</li>
<li>We see a huge untapped opportunity for Bitcoin mining companies. We initiate Marathon Digital Holdings with Overweight and Cipher Mining and Riot Blockchain with Neutral.  </li>
</ul>


Bitcoin mining is booming in the United States and we expect ~2.5 GW of new cumulative mining capacity will be added by crypto mining companies in the U.S. this year. 
Today, Foundry USA is the biggest mining pool globally, and North America has been the clear beneficiary of China’s cryptocurrency ban in 2021.
We see a huge untapped opportunity for Bitcoin mining companies. We initiate Marathon Digital Holdings with Overweight and Cipher Mining and Riot Blockchain with Neutral.  


Crypto Mining Industry Series: Let The Crypto Miners Rush Begin

United States

Cipher Mining Inc. provides financial services. The Company offers Bitcoin mining services. Cipher Mining serves customers worldwide.

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Cipher Mining (CIFR US)

Digital Gold Rush

The current environment parallels that of the bear market seen in digital assets in 2018. The Global Cryptocurrency Market Cap has fallen from...

subSPAC

Hut 8 Mining: North Bay Mining Site Will Add 100MW Capacity in Ontario

We initiate Hut 8 Mining (HUT) with Overweight and see near-term growth of hash rate after construction of the North Bay Facility is completed in...

Andrei Zakharov

Crypto Mining Industry Series: Let The Crypto Miners Rush Begin

We see a huge untapped opportunity for Bitcoin mining companies. We initiate Marathon Digital Holdings with Overweight and Cipher Mining and Riot...

Andrei Zakharov

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