Smartkarma Originals

Crypto Mining Industry Series: Let The Crypto Miners Rush Begin

  • Bitcoin mining is booming in the United States and we expect ~2.5 GW of new cumulative mining capacity will be added by crypto mining companies in the U.S. this year. 
  • Today, Foundry USA is the biggest mining pool globally, and North America has been the clear beneficiary of China’s cryptocurrency ban in 2021.
  • We see a huge untapped opportunity for Bitcoin mining companies. We initiate Marathon Digital Holdings with Overweight and Cipher Mining and Riot Blockchain with Neutral.  

Algosun Global • Director of Equity Research, IPOs • (Opens in a new window) ⧉

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