RE:Butfarms moving like slugs should be up to Mara by now Only you KV would call going from under a dollar (March 6, 2023) to almost 5$ in less than a year "Moving like a slug".
1) Mara Shares oustanding 179M. BITF shares oustanding 273M. If everything else was the same, Mara should have the better price/share
2) Mara hashrate 22.4. BITF hashrate 6.3 at last news release, probably a bit higher now, AIMING for 21+, but they're not there yet.
3) Mara holds 15k BTC+. BITF holds 804 BTC at last news release. One thing BITF has over MARA is debt, they'll have 0$ by month end, while Mara has .3B. Another is cost of mining, where MARA sits at 18.9k while BITF mines at 16.9k/BTC.
4) Despite this, price of BITF 3 months ago at 1.65, and today closed at 4.86, that's 294% increase. Mara on the other hand was worth 9.76 and closed today at 27.02, and for you math nerds out there who don't need a calculator, you guessed it, an increase of only 276%.
How is BITF moving like a slug? it's acutally outperformed MARA in the past 3 months.
For your 2nd. comment, the halving will double the difficulty, but BITF will triple their hashrate, so the ratio they mine will increase. Keep in mind traditionally that halving events have led to more than doubling of the BTC price in the following year after the halving, meaning what you mine is imminently more valuable than before by a multiplier larger than 2 and what you've banked also multiplies in value.
<sigh>
B