Bitcoin have recovered substantially from the precipitous drop seen last year as a result of rising interest rates, macroeconomic pressures, and the failure of FTX and other mining enterprises. While regulatory worries and extreme volatility continue to make equities dangerous, numerous analysts remain optimistic about the market. Comparison Toolsa are used to compare Coinbase Global ($COIN), Marathon Digital ($MARA), and Riot Platforms ($RIOT) to determine the most appealing mining stock.

Coinbase Global ($COIN):

Coinbase Global has faced increased regulatory scrutiny, with the SEC suing the company for selling unregistered securities. Despite these issues, Coinbase shares have rallied by 128% this year. The company reported better-than-expected second-quarter results, with revenue declining 12.4% to $708 million, but exceeding analysts' expectations. The loss per share narrowed to $0.42, better than analysts' expectation of $0.76. Lower costs and a surge in interest income contributed to the bottom line. However, investors were disappointed with the sequential decline in Q2 2023 trading volumes and the company's Q3 2023 guidance for subscriptions and services. Piper Sandler analyst Patrick Moley raised his price target for Coinbase to $80, maintaining a Hold rating. Wall Street is sidelined on COIN stock, with a Hold consensus rating based on six Buys, eight Holds, and eight Sells. The average price target of $80.68 suggests the stock could be range bound from current levels.

Marathon Digital Holdings ($MARA):

Marathon Digital reported a Q2 2023 revenue surge of $81.8 million, driven by a 314% increase in Bitcoin production. This growth narrowed the reported loss per share to $0.13 from $1.94 in the previous quarter. However, the company also highlighted impressive growth in its hash rate and efficiency, with a 54% increase to 17.7 Exahashes per second (EH/s) in Q2 2023 compared to the first quarter. The company is targeting an operational hash rate of 23 EH/s through its new facilities in Ellendale, North Dakota and Garden City, Texas. Compass Point analyst Chase White reduced his price target for Marathon Digital to $20 from $21 and reiterated a Buy rating. With two Buys and two Holds, Marathon Digital scores a Moderate Buy consensus rating, with an average price target of $16.50, implying a 10% upside. Shares have jumped over 338% year-to-date.

Riot Platforms ($RIOT):

Riot Platforms, a major Bitcoin miner in North America, has seen a strong rebound from last year's slump due to Bitcoin price increases and its expansion. The company reported mixed results for Q2 2023, with a lower-than-anticipated loss per share and a 27% increase in Bitcoin production. Roth MKM analyst Darren Aftahi reiterated a Buy rating on RIOT stock and raised the price target to $19.50. The company's Q2 2023 results showed a 19% reduction in mining costs and $13.5 million in power credits, which could improve efficiency in the second half of the year. Aftahi believes Riot Platforms has the potential to triple its hash rate from 10.7 EH/s to 35 EH/s by the end of 2025. The stock scores a Strong Buy consensus rating based on eight unanimous Buys, with an average price target of $20.19, indicating 38% upside potential. Shares have risen over 332% since the start of this year.

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Wall Street is positive on Riot Platforms but bearish on Coinbase and cautiously hopeful on Marathon Digital. Despite a great year-to-date performance, experts expect Riot Platforms stock to rise much more. Nonetheless, before making any investing decisions, investors should examine the significant risks and volatility connected with equities.