• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Breaking News: BREAKING: Terra Founder Do Kwon's Extradition To The US Approved
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Terra Founder Do Kwon's Extradition To The US Approved
bitcoin miner

By The Numbers: The Most Undervalued Bitcoin Mining Stocks

Best Owie by Best Owie
1 year ago
in Bitcoin
0

Bitcoin mining stocks really gained prominence in 2021. Due to the increase in the price of the digital asset, mining profitability shot up, and investors used this as a way to gain exposure to the market. As the market has retraced, though, the mining stocks have struggled. However, they continue to be in operation, and data shows that some of these bitcoin mining stocks remain largely undervalued.

The Most Undervalued Companies

Some bitcoin mining companies have not been in the public eye compared to others. Mainly, these have been in the shadows due to not having as high a valuation as others and their stocks not performing quite as well, but this does not mean that these companies are not good in any way.

Related Reading | Bitcoin Addresses In Profit Falls Below 50%

An example of a company like this has been Stronghold. The bitcoin mining company has been operating in the shadows while its valuation remains undervalued. Using the EV/EBITDA metric as opposed to the EV/ASIC value, Stronghold shows one of the most promise in terms of its undervaluation.

It is important to note that companies who score less than 10 on the EV/EBITDA metric are considered to be undervalued, and Stronghold has one of the lowest of all bitcoin mining companies with a score of 2.3. Another is CleanSpark which is sitting at 2.9, as well as Hut 8 with a score of 2.9. These companies have the lowest valuations even though they hold a lot of promise.

bitcoin mining companies

Mining stocks largely undervalued | Source: Arcane Research

Bitfarms is also in the same category with a score of 3.7. These mining companies are a mark for higher returns. However, it should also be noted that these companies also have other things weighing them down, such as debt, which increases their chances of going bankrupt.

Bitcoin Miners With Higher Valuations

Not all bitcoin miners have been undervalued in these times. Some have received high valuations even through the bear market. The largest bitcoin minger according to valuation is Marathon Digital which has received a 17.2 EV/EBITDA score. This means that the company is operating at a normal valuation and has more chances of maintaining a more stable value over time.

Bitcoin price chart from TradingView.com

BTC recovers above $21,000 | Source: BTCUSD on TradingView.com

Others have also received a high valuation but have not crossed the 10 mark yet. Core Scientific has received the second-highest score after Marathon Digital. The public miner is currently sitting at a score of 7.5 on the EV/EBITDA scale, making it slightly undervalued.

Related Reading | Here Are Some Events Happening This Week That Could Affect Crypto

Next is Riot Blockchain, with a score of 6.5, with Argo following right behind with a score of 5.1. However, one thing that separates these two has been the quality of the companies, making a play on such undervalued companies quite beneficial over time.

Featured image from GoBanking Rates, charts from Arcane Research and TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Best Owie

Best Owie

Best Owie is a Managing Editor at Bitcoinist with extensive experience and a proficient expert known for crafting captivating and insightful content. Best boasts over six years in the crypto sector, and has supervised the conception and publication of thousands of articles. Best is also a content and marketing strategist with the ability to make sure your content reaches the right audience and beyond. In every aspect, Best stands out as a consummate professional, always striving for unparalleled excellence both within and outside the workplace.

Related Posts

Bitcoin ETF

Bitcoin ETF: Catalyst Or Controversy In The Crypto Universe?

34 mins ago
Polygon

Polygon Reigns Supreme With 76% Inscription Activity On EVM Chains

15 hours ago
Terra Classic

Terra Classic Price Climbs 77% Amid Do Kwon Extradition Drama

17 hours ago
Bitcoin supply

93% Of All Bitcoin Has Now Been Mined, How Much BTC Is Left?

19 hours ago
IBM

Big Blue’s Big Move: IBM Reveals Cutting-Edge Crypto Cold Storage Tech

2 days ago
Bitcoin

Swiss Pioneers: Lugano City Breaks New Ground, Accepts Bitcoin And USDT For Taxes

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
Inmerion
Inmerion

Press Releases

  • 7 DeFi tokens to make you rich in 2024

    10 hours ago
  • Retik Finance (RETIK) will Replace Polygon (MATIC) in 2024

    11 hours ago
  • This New Casino Token Offers Daily Passive Rewards Up to...

    11 hours ago
  • Investors Pile Onto eTukTuk (TUK) Presale, Under A Week...

    11 hours ago
  • 3 Days Left to Join the Chimpzee Presale: Last Chance to...

    11 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.