RIOT - Fundamentals/Financials don’t matter. Staying Long CryptoI 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.
