bullish
Crypto Mining Industry Series: Time To Focus On Efficient Crypto Miners
430 Views25 Jul 2022 06:22
SUMMARY
- During the last three months, the crypto market has lost ~$2 trillion in value and slightly recovered in July when BTC bulls could hold a $20K price level.
- Bitcoin mining economics changed dramatically, and depressed BTC prices forced inefficient miners out of the market. Some BTC mining companies started to sell Bitcoins to cover OpEx and CapEx.
- We remain bullish on Marathon Digital Holdings (MARA US) and upgrade Riot Blockchain (RIOT US) and Cipher Mining (CIFR US) to Overweight on favorable risk-reward post-recent sell-off.
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Rising
Andrei Zakharov
Covering IPOs, Healthcare and Technology Stocks
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