I haven’t bought bitcoin mining stocks this market cycle, and don’t plan on buying them, but I thought this was an interesting exercise. MARA is the undisputed king of bitcoin mining and it’s not even close. From a fundamental and financial standpoint, MARA should be the best bitcoin mining stock to buy. But Technicals say RIOT may outperform MARA for the foreseeable future
1) Hash Rate (Mining Power):
💡Winner: MARA (53.7 EH/s)
* Why It Matters: More mining power means more BTC rewards and greater dominance in the industry.
* RIOT (39.1 EH/s) is the second biggest, but still behind MARA’s growth rate.
2) Bitcoin Holdings – Who Holds the Most BTC?
💡 Winner: MARA (46,374 BTC)
* Marathon holds almost 5x more Bitcoin than RIOT (8,872 BTC).
* Most miners sell BTC to fund operations, but MARA HODLs aggressively, a sign of strength
3) Mining Efficiency – Who Mines Bitcoin at the Lowest Cost?
💡 Winner: CleanSpark (CLSK) and MARA
* MARA’s cost per BTC is $28,801, lower than RIOT ($32,000) and similar to CleanSpark.
* How? MARA owns more of its energy sources, including a wind farm in Texas, cutting costs.
4) Revenue & Profitability – Who Makes the Most Money?
💡 Winner: MARA
* $656M revenue & $541M net income in 2024
* RIOT made $572M, but with much lower profit.
RIOT stock chart is currently trading in a descending channel which is inherently bullish, and is trading at a golden window support area ($4.81 - $6.54). RIOT is also printing a daily bullish dragonfly doji on the day the Dow Jones dropped 2,000 points. Unpopular opinion right now, I still believe we will see higher cryptocurrency prices for 2025-2026. I am expecting RIOT to tag the 0.618 fibbonaci retracement at $23.44 in the future.
Even though I anticipate RIOT doing a 3x, I still won’t buy it. Still sticking with LINK/XRP/BTC.
Not financial advice, but on a day like this, hold spot/shares only. Using leverage = Making exchanges richer. Aka sucking Middle Man D.
1) Hash Rate (Mining Power):
💡Winner: MARA (53.7 EH/s)
* Why It Matters: More mining power means more BTC rewards and greater dominance in the industry.
* RIOT (39.1 EH/s) is the second biggest, but still behind MARA’s growth rate.
2) Bitcoin Holdings – Who Holds the Most BTC?
💡 Winner: MARA (46,374 BTC)
* Marathon holds almost 5x more Bitcoin than RIOT (8,872 BTC).
* Most miners sell BTC to fund operations, but MARA HODLs aggressively, a sign of strength
3) Mining Efficiency – Who Mines Bitcoin at the Lowest Cost?
💡 Winner: CleanSpark (CLSK) and MARA
* MARA’s cost per BTC is $28,801, lower than RIOT ($32,000) and similar to CleanSpark.
* How? MARA owns more of its energy sources, including a wind farm in Texas, cutting costs.
4) Revenue & Profitability – Who Makes the Most Money?
💡 Winner: MARA
* $656M revenue & $541M net income in 2024
* RIOT made $572M, but with much lower profit.
RIOT stock chart is currently trading in a descending channel which is inherently bullish, and is trading at a golden window support area ($4.81 - $6.54). RIOT is also printing a daily bullish dragonfly doji on the day the Dow Jones dropped 2,000 points. Unpopular opinion right now, I still believe we will see higher cryptocurrency prices for 2025-2026. I am expecting RIOT to tag the 0.618 fibbonaci retracement at $23.44 in the future.
Even though I anticipate RIOT doing a 3x, I still won’t buy it. Still sticking with LINK/XRP/BTC.
Not financial advice, but on a day like this, hold spot/shares only. Using leverage = Making exchanges richer. Aka sucking Middle Man D.
Trade active
If we overlay the RIOT stock price with the MARA stock price, we can see the RIOT/MARA chart is holding onto the white 1:1 fibbonaci extension support area. Potential double bottom in the making with the previous monthly candle being a hammer. In the future, I am expecting RIOT/MARA to hit 0.84-1, meaning each RIOT share will be worth 0.84-1 MARA share. Currently, each RIOT share is worth 0.63 MARA shares.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.