After a tough weekend for BTC investors, we’re taking a look at some crypto-related securities that might be good buys as the space is sure to bounce back.
One company in the space we covered earlier this week, HIVE Blockchain Technologies Ltd. (OTCMKTS:HVBTF) is a Vancouver-based company focused on the use of supercomputing assets and cloud software for the mining of popular cryptocurrencies like Ethereum and Bitcoin. The company says that the operations provide shareholders of the firm an inroad into the margins associated with crypto mining. The share price of the firm is closely linked to Bitcoin, if you’re looking for other ways to play bitcoin this may be a good one.
Another bitcoin mining play is, Riot Blockchain, Inc. (NASDAQ: RIOT). The firm supports Bitcoin blockchain through the industrial-scale mining of the cryptocurrency. Riot employs more than 7,000 miners for the purpose and is currently based in the United States only. The company is one of the largest publicly traded crypto mining operations in the world and has plans to expand to countries outside the US in the future. RIOT has a market cap of more than $4.2 billion and reported more than $12 million in annual revenue in December 2020, up almost $6 million to the previous year.
If you’re looking for an OTC opportunity, Galaxy Digital Holdings Ltd. (OTCMKTS: BRPHF) is a New York-based baking firm that focuses on the digital assets and blockchain technology industry. It is involved in asset management, trading, investments, and advisory services. Galaxy Digital also manages third-party capital for macro hedge funds, equity hedge funds, venture capital, and various structured credit and direct lending funds.
Finally, Marathon Digital Holdings, Inc. (NASDAQ: MARA) is a Las Vegas-based firm that mines cryptocurrencies. It concentrates on the blockchain ecosystem and digital assets The company has plans to expand current operations of more than 2,600 Bitcoin miners to 103,000 miners in the coming years. The proprietary data center of Marathon, located in Hardin MT, has a maximum power capacity of 105 Megawatts.
As Bitcoin has been on a seemingly unstoppable run, this weekend’s price drop might be a great entry opportunity for new investors in the space, as well as investors looking for vertically integrated crypto plays.