Post by
BrITeChOIceswiN on Nov 02, 2021 10:23pm
Is BITF Undervalued Compared To It's Peers?
MARA hodles 7435 Bitcoin : BITF hodles 35% of that
MARA mined 417 Bitcoin in October : 18% more than BITF
MARA's Bitcoin value is 7% of it's market cap
MARA' valuation is ~500% higher than BITF
MARA's current hash rate : 2.7 EX/s
HUT hodles ~5000 Bitcoin : BITF hodles 52% of that
HUT mined 264 Bitcoin in September : 14% less than BITF in September
HUT's Bitcoin value is 12% of it's market cap
HUT's valuation is ~ 140% higher than BITF
HUT's current hash rate : ~1.4 EX/s
RIOT hodles ~4000 Bitcoin : BITF hodles 64% of that
RIOT mined 406 Bitcoin in September : 25% more than BITF
RIOT's Bitcoin value is 8% of it's market cap
RIOT's valuation is ~ 190% higher than BITF
RIOT's current hash rate = 2.6 EX/s
BITF hodles 2646 Bitcoin
BITF mined 343 Bitcoin in October
BITF's Bitcoin value is 15% of it's market cap
BITF's market cap is 1.06 billion USD
BITF's current hash rate : 1.8 EX/s
There's definitely a BITF valuation discrepancy, but it's hard to measure since the
numbers for each miner are changing every month. However it seems that HUT is going to lag the other 3 miners in terms of increasing hash rate during the next 3 months - fortunately they hodle ~5000 Bitcoin. At the same time though it seems RIOT will pass HUT's BTC holdings by next year's 2nd quarter. BITF could pull that feat off by the next year's 3rd or 4th quarter. Currently it seems that BITF is at least 30% undervalued and will be a whole lot more by next year's 1st quarter if they continue to execute as well as they have. I'm guessing it's a good time to buy some BITF.
All the best