Unlocking Value in Bitcoin Mining - Analyst Selects RIOT And CLSK As Top Picks
Portfolio Pulse from Anusuya Lahiri
Bernstein analyst Gautam Chhugani initiated coverage on U.S. Bitcoin miners with an Outperform rating on Riot Platforms, Inc (NASDAQ:RIOT) and CleanSpark, Inc (NASDAQ:CLSK), and a Market-Perform rating on Marathon Digital Holdings, Inc (NASDAQ: MARA). Chhugani prefers RIOT and CLSK due to their strong operational edge, low cost of production, high liquidity, and unlevered balance sheets. He projects FY23 revenue of $276.595 million for Riot, $347.108 million for Marathon, and $170.601 million for CleanSpark.
October 31, 2023 | 6:39 pm
News sentiment analysis
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NEUTRAL IMPACT
Marathon Digital Holdings, Inc has been given a Market-Perform rating by Bernstein analyst Gautam Chhugani, who cites the company's sub-par expenses and debt, and no operational advantage.
The Market-Perform rating and the negative comments about the company's expenses and debt could lead to neutral investor interest and no significant change in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
CleanSpark, Inc has been given an Outperform rating by Bernstein analyst Gautam Chhugani, who cites the company's strong operational edge, low cost of production, high liquidity, and unlevered balance sheets.
The Outperform rating and the positive comments about the company's operational edge and low production cost could lead to increased investor interest and a potential rise in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Riot Platforms, Inc has been given an Outperform rating by Bernstein analyst Gautam Chhugani, who cites the company's strong operational edge, low cost of production, high liquidity, and unlevered balance sheets.
The Outperform rating and the positive comments about the company's operational edge and low production cost could lead to increased investor interest and a potential rise in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100