Metals, Ores, and Mining Firms, Mint Finance

Pranay Yadav

Metals, Ores, and Mining Firms

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Cross Asset Strategy

<ul>
<li>BTC's phenomenal +57% surge since September is propelled by key forces—ETF euphoria, a robust "Risk On" asset bull run, regulatory clarity, and the imminent BTC halving.</li>
<li>While BTC maintains resilience, mining firms, exemplified by Valkyrie Bitcoin Miners ETF (WGMI), have seen a 30% underperformance over the last 3 months.</li>
<li>Mining firms that have scaled up hash-rate over the past year and built up BTC holdings to support outperformance to BTC. However, ample cash reserves are vital.</li>
</ul>


BTC's phenomenal +57% surge since September is propelled by key forces—ETF euphoria, a robust "Risk On" asset bull run, regulatory clarity, and the imminent BTC halving.
While BTC maintains resilience, mining firms, exemplified by Valkyrie Bitcoin Miners ETF (WGMI), have seen a 30% underperformance over the last 3 months.
Mining firms that have scaled up hash-rate over the past year and built up BTC holdings to support outperformance to BTC. However, ample cash reserves are vital.


In A Bitcoin Frenzy; Long BTC Miners & Short BTC

Global Commodities, Mint Finance

Srinidhi Raghavendra

Global Commodities

Macroeconomics

<ul>
<li>Continued central bank buying, geopolitics, and de-dollarisation concerns have kept gold prices buoyant over the last two years.</li>
<li>Gold has been at record high in non-USD terms for some time now. On 4th Nov, it rallied to an all-time high of USD 2,135 per troy ounce.</li>
<li>Not just gold, but digital gold ("bitcoin") also rallied to its highest in 20 months as excitement of rate cuts captured the zeitgeist of investors.</li>
</ul>


Continued central bank buying, geopolitics, and de-dollarisation concerns have kept gold prices buoyant over the last two years.
Gold has been at record high in non-USD terms for some time now. On 4th Nov, it rallied to an all-time high of USD 2,135 per troy ounce.
Not just gold, but digital gold ("bitcoin") also rallied to its highest in 20 months as excitement of rate cuts captured the zeitgeist of investors.


Gold Soars to Record High on Rising Rate Cut Expectations

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

Thematic (Sector/Industry)

<ul>
<li>Bitcoin could find the bottom and strongly rebounded in 1Q23. We believe BTC mining companies could be sellers of crypto assets on strong bounce and limit room for further upside. </li>
<li>Our bear case scenario assumes an average BTC price of $25K in 2023 with an opportunity to reach as high as $30K. Leading crypto miners began to offload Bitcoin holdings. </li>
<li>Investors should be more selective on the crypto miner names during a prolonged bear market. Our top picks include Marathon Digital Holdings, Riot Blockchain, and Cipher Mining. </li>
</ul>


Bitcoin could find the bottom and strongly rebounded in 1Q23. We believe BTC mining companies could be sellers of crypto assets on strong bounce and limit room for further upside. 
Our bear case scenario assumes an average BTC price of $25K in 2023 with an opportunity to reach as high as $30K. Leading crypto miners began to offload Bitcoin holdings. 
Investors should be more selective on the crypto miner names during a prolonged bear market. Our top picks include Marathon Digital Holdings, Riot Blockchain, and Cipher Mining. 


Crypto Mining Industry Series: Strong Start In 2023. Bitcoin Is Up ~40% YTD

Concise Playbook for the Week, Global Markets Playbook

Kevin George

Concise Playbook for the Week

Global Markets Playbook

I am an active trader in stocks, FX and commodities with over 15 years' market experience. I hold a master's degree in finance and have developed a strong skill base in technical analysis. 

Alongside technical setups I will provide earnings analysis, company valuation analysis and macroeconomic studies for the key market releases.

Equity Bottom-Up

<ul>
<li>Bitcoin sold off in December and rallied in January for a reason.</li>
<li>Big banks are coming with a digital payments option. Big banks will have a digital payment option in the coming days.</li>
<li>Bitcoin sold off last month and rallied again in January, with a rise in popularity in the wake of contagion.</li>
</ul>


Bitcoin sold off in December and rallied in January for a reason.
Big banks are coming with a digital payments option. Big banks will have a digital payment option in the coming days.
Bitcoin sold off last month and rallied again in January, with a rise in popularity in the wake of contagion.


Bitcoin And The Tax-Loss Harvesting Rally

<ul>
<li>Bitcoin mining companies continue to suffer from crypto winter’s market conditions: substantial drop in mining rig prices, low cryptocurrency prices, heightened volatility, and unprofitable mining operations.</li>
<li>We are looking for bright spots and believe Marathon Digital Holdings and Riot Blockchain will survive the crypto winter with the opportunity to win market share in the coming years.</li>
<li>Our analysis suggests all-in-breakeven costs (miner costs+power costs+OpEx) of the most efficient BTC mining companies to mine a BTC close to the current BTC price of ~$20,000. </li>
</ul>


Bitcoin mining companies continue to suffer from crypto winter’s market conditions: substantial drop in mining rig prices, low cryptocurrency prices, heightened volatility, and unprofitable mining operations.
We are looking for bright spots and believe Marathon Digital Holdings and Riot Blockchain will survive the crypto winter with the opportunity to win market share in the coming years.
Our analysis suggests all-in-breakeven costs (miner costs+power costs+OpEx) of the most efficient BTC mining companies to mine a BTC close to the current BTC price of ~$20,000. 


Crypto Mining Industry Series: Looking For Bright Spots As The Darkest Months Ahead

United States

Marathon Digital Holdings, Inc. operates as a digital asset technology company. The Company mines cryptocurrencies, with a focuses on the blockchain ecosystem and the generation of digital assets. Marathon Digital Holdings serves customers worldwide.

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Marathon Digital Holdings (MARA US)

In A Bitcoin Frenzy; Long BTC Miners & Short BTC

BTC's recent surge is driven by ETF excitement, a bullish market, regulatory clarity, and the upcoming halving. Mining firms have underperformed...

Mint Finance

Gold Soars to Record High on Rising Rate Cut Expectations

Gold prices are inversely related to interest rates. Gold is a non-yielding asset. When rates rise, deposits are attractive relative to gold. With...

Mint Finance

Crypto Mining Industry Series: Strong Start In 2023. Bitcoin Is Up ~40% YTD

We believe the crypto contagion is finally over, and a rally in Bitcoin may restore investor confidence after 12 months of a bear market

Andrei Zakharov

Bitcoin And The Tax-Loss Harvesting Rally

Bitcoin sold off in December and rallied in January for a reason. Big banks are coming with a digital payments option. Big banks will have a...

Kevin George

Crypto Mining Industry Series: Looking For Bright Spots As The Darkest Months Ahead

Crypto mining industry suffers from low BTC prices, high energy costs, and increased mining difficulty, putting some BTC miners on the verge of the...

Andrei Zakharov

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

In A Bitcoin Frenzy; Long BTC Miners & Short BTC

​BTC's recent surge is driven by ETF excitement, a bullish market, regulatory clarity, and the upcoming halving. Mining firms have underperformed...

Mint Finance

Gold Soars to Record High on Rising Rate Cut Expectations

Gold prices are inversely related to interest rates. Gold is a non-yielding asset. When rates rise, deposits are attractive relative to gold. With...

Mint Finance

Crypto Mining Industry Series: Strong Start In 2023. Bitcoin Is Up ~40% YTD

We believe the crypto contagion is finally over, and a rally in Bitcoin may restore investor confidence after 12 months of a bear market

Andrei Zakharov

Bitcoin And The Tax-Loss Harvesting Rally

Bitcoin sold off in December and rallied in January for a reason. Big banks are coming with a digital payments option. Big banks will have a...

Kevin George

Crypto Mining Industry Series: Looking For Bright Spots As The Darkest Months Ahead

Crypto mining industry suffers from low BTC prices, high energy costs, and increased mining difficulty, putting some BTC miners on the verge of the...

Andrei Zakharov

BTC's recent surge is driven by ETF excitement, a bullish market, regulatory clarity, and the upcoming halving. Mining firms have underperformed...