$MARA, $ARBK, $HIVE, $SLNH, $RIOT, $GREE, $MIGI
After a very tough 2022 forBitcoin miners, the sector is beginning to look more promising since the tax loss selling ended at the end of the year and companies with high debt announce facility sales and debt restructuring.
For example, in the first week of trading this year, a few miners made some big moves —from 20% up to 70% in gains.
$MARA Marathon Digital (Nasdaq:MARA) @ $4.09 — Up 20% last week. Operational update just released. https://finance.yahoo.com/news/marathon-digital-holdings-announces-bitcoin-133500233.html One of largest publicly traded crypto miners out there.
$ARBK Argo Blockchain (Nasdaq;ARBK) @ $1.42 — Up 21% in first four trading days of the year. When you go from warning about a potential bankruptcy to getting the capital to continue, this move is not surprising. Galaxy Digital Holdings bought ARBK's Helios facility in Texas for $65 million, refinanced its asset-backed loans and entered into a hosting agreement with Galaxy to host Argo's mining machines at the Helios facility.
$HIVE HIVE Blockchain (Nasdaq: HIVE) @ $1.82 — Up 26%. HIVE Blockchain owns and operates green energy-powered data center facilities in Canada, Sweden, and Iceland mining Bitcoin, Ethereum and Ethereum Classic. (so, not quite a pure play on bitcoin mining) H.C . Wainwright recent research report set target price of $5.00.
$SLNH Soluna Holdings @ $0.379 –Up 27% SLNH's 50 MW flagship green data center project in Texas, anticipates Production Load Forecast Date of approximately February 8, 2023, which is the earliest date Soluna expects the Electric Reliability Council of Texas (ERCOT) would permit the energization of the facility.
$RIOT Riot Blockchain (NASDAQ:RIOT) @ $4.29 — Up 27% since Tuesday, Well-known crypto miner with cash on hand and low cost energy operations. Northland Securities recently (Dec 15) set stock a target price of $10.
$GREE Greenidge (Nasdaq:GREE) @ $0.37 — Up 30% Announced on Dec. 20entering into a non-binding term sheet with NYDIG to potentially restructure its approximately $74 million of debt remaining with NYDIG under the Master Equipment Finance Agreements.
$MIGI Mawson Infrastructure (NASDAQ:MIGI) @ $0.39— Up 70% from $0.23 at end of year. Expanding operations in PA 00.with low cost energy contracts after selling facility in Georgia to $CLSK for cash and equity of $40 million. Operational update for December expected by Jan. 15. Cantor Fitzgerald has Target Price of $2.00.
***As always, there is nothing better than conducting your own due diligence. Read the press releases, analyst reports and SEC filings.***
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