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4 cryptocurrency stocks to buy now to gain exposure to cryptocurrencies

Crypto mining stocks have become all the rage of late, especially since they are generally seen as a substitute for owning cryptocurrency. So instead of buying Bitcoin (CCC: BTC-USD) or Ethereum (CCC-ETH-USD), you can buy a crypto mining stock the same way people buy gold mining stocks. They see this as an alternative to owning gold. One of the reasons for this is that companies make income and have the capacity to generate profit. Owning a cryptocurrency does not guarantee you any type of income. Another reason is that a number of these crypto mining stocks have started owning and buying their underlying cryptos. In the case of Marathon Digital Holdings (NASDAQ: MARA), the company does not convert its mined cryptos into dollars. It simply keeps them in their balance sheet. A third reason is that many of these companies now have very high gross margins. These windfall profits are due to a large gap between the costs of mining, even with high electricity costs and high hash rates, and the much higher price of Bitcoin and other cryptos. For example, some of these crypto miners have secured very favorable long-term power contracts with their local energy providers.InvestorPlace – Stock Market News, Stock Advice & Trading Tips 7 Retail stocks that are way too close to failure Therefore, the following four cryptocurrencies mining stocks are worth considering. Here is the list: Riot Blockchain (NASDAQ: RIOT) Hive Blockchain Technologies (OTCMTKS: HVBTF) Hut 8 Mining Corp (OTCMKTS: HUTMF) Bit Digital (NASDAQ: BTBT) Let’s dive into these stocks. Crypto Mining Stocks to Buy Now: Riot Blockchain (RIOT) Source: Shutterstock Market Cap: $ 4.25 Billion Riot Blockchain is a digital currency mining company based in Castle Rock, CO, but its mining operations are located in northern New York State. It also buys and sells digital currencies and provides accounting, auditing and auditing services for blockchain-based assets. Riot has recently increased its mining capacity so that it can achieve an estimated hash rate capacity of 1.06 Exahash per second (EH / s). This equates to a quintillion hashes per second, a number with 18 zeros behind the 1, or 1 billion trillion hashes per second. Additionally, with additional application-specific mining platforms (ASICs), specifically designed for Bitcoin mining, the company expects to hit 3.8 EH / s by October 2021. That is expected to make that up. the largest or closest to the largest Bitcoin miners in the world. Riot Blockchain just released its 2020 results update on March 15. It produced 1,005 Bitcoins in 2020, and by February had produced 179 Bitcoins, 43% more than in January 2021. That puts it on an execution rate, which is probably higher now, of 2,148 Bitcoins, or 113 , 7% more than 2020. Assume a price of $ 58,000 per Bitcoin. This equates to an annual income of $ 124.58 million. Therefore, assuming it hits an execution rate of 250 BTC per month by October 2021, its earning rate will be $ 14.50 million per month, or $ 174 million per year. As the company says it will hit 4 pe / s by the end of the year, that could mean a significantly higher level. The earnings update did not release earnings figures, but we can assume that by the end of the first quarter of 2021, the company will be making significant profits. My guess is that this will be 90% gross margins. I suspect the stock has the capacity to at least double from here, as long as Bitcoin continues to deliver huge windfall profits to Riot. HIVE Blockchain Technologies (HVBTF) Source: Shutterstock Market Cap: $ 1.3 Billion Hive Blockchain is a Vancouver-based crypto mining company operating in Canada, Sweden and Iceland. The company produced profit for its most recent quarter ending Dec.31 on March 2, showing it generated $ 13.7 million. It operates both Ethereum (in Sweden and Iceland) and Bitcoin and has gross margins of 77%. Hive Blockchain produces around 20,000 Ether coins per quarter, which at the current rate of around $ 1,800 per Ether equates to $ 36 million. That puts it on an annualized operating rate of $ 144 million in revenue. At its market cap of $ 1.3 billion, that puts Hive stock at around 9 times its sales. 7 Stocks to Buy No Matter How Yields Treasury Hive also announced a $ 100 million Market Capital Increase (ATM), which it will use to pay down debt and for corporate purposes. Look for the stock, which is also listed in Canada, to continue rising as it’s up about 100% year-to-date, especially as Ethereum rises. Hut 8 Mining Corp (HUTMF) Source: Shutterstock Market Cap: $ 962 Million Hut 8 Mining’s stock is up about 173% year-to-date, not just because it is a profitable Bitcoin miner, but also because he has a large Bitcoin wallet. The company will report its results on March 25 for the year ending December 31. Hut 8 claims it has one of the highest installed mining capacities in its class. It also states on its website that it has one of the highest installed capacity rates in the industry. He claims to be among the top 5 holders of self-mined Bitcoin from publicly traded companies in the world. A recent research report in Seeking Alpha on Hut 8 indicates that as of January 2021 he had 3000 Bitcoins in his treasury. At $ 58,000 per BTC, that equates to $ 174 million. The company also claims to have raised $ 100 million in equity. The January report indicated that the stock of Hut 8 was undervalued at the time. A new CEO and two new directors joined the company in November. The report states that the company has operations capable of producing 3.73 Bitcoin per day or 1,358 per year. At $ 58,000 per Bitcoin, that’s about $ 78 million in revenue per year. It is too early to determine how profitable the business really is, on an ongoing basis, without more information. Investors should carefully read its March 25 earnings post to see what its future value might become. However, I expect this to be an extremely positive report so be prepared to see the stock climb. Bit Digital (BTBT) Source: biggunsband / Shutterstock.com Market Cap: $ 822.6 Million This is a relatively unknown U.S. and Chinese digital currency miner, but some analysts like this Bitcoin miner the most. For example, a recent Seeking Alpha report from March 10 indicates that it trades at a massive discount on a price / sales ratio compared to other miners. Additionally, the company was producing 424.7 Bitcoins per month in January. At $ 58,000 per BTC, that equates to $ 24.59 million, or $ 295.1 million per year. Considering its market cap of $ 822.6 million, that puts it at roughly a 3x sales rate. The company has yet to produce its results for 2020, so look for more information from of the business to determine its long-term value. But for now, with this information on its January trading, look for at least double, if not triple, the stock once the market realizes what its comp value is worth. But be aware that the company recently issued a press release it said it was providing in response to false allegations about the company’s operations. This may refer to a Seeking Alpha report in April 2020 (when the company was known as Golden Bull Limited) citing questionable practices within the company. As always, the buyer is wary. These crypto-mining stocks offer good exposure to digital currencies without having to buy the cryptos themselves. As Bitcoin and Ethereum reach peak prices, these companies are now achieving exceptional higher gross margins, especially compared to their history. 7 Inexpensive Stocks Under $ 10 Several of them have raised enough cash to be able to fund their trades with their cash, allowing them to hold onto the Bitcoin they mined as long-term marketable securities in their record. This gives investors additional leverage upside exposure to digital currencies. As of the publication date, Mark R. Hake was long in Marathon Digital Holdings (MARA). Mark Hake writes about personal finance at mrhake.medium.com and runs the Total Return Value Guide which you can view here. More from InvestorPlace Why Everyone Is Investing in 5G, It’s All Wrong It doesn’t matter if you have $ 500 in savings or $ 5 million. Do this now. Top Stock Picker Reveals Next Potential Winner 500% Stock Prodigy Who Found $ 2 NIO Says Buy Now Post 4 Crypto Mining Stocks To Buy Now To Gain Cryptocurrency Exposure Appeared First On InvestorPlace.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

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