HomeUncategorizedMarathon, Riot among most overvalued Bitcoin mining stocks: Report By Cointelegraph

Marathon, Riot among most overvalued Bitcoin mining stocks: Report By Cointelegraph

November 8, 2023

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(BTC) mining heavyweights Marathon Digital (NASDAQ:) and Riot Platforms (NASDAQ:) are among the most overvalued crypto mining companies relative to their competitors, says MinerMetrics founder and analyst Jaran Mellerud.

The key metric backing Mellerud’s claim is enterprise value-to-sales ratio — measuring a company’s value to its sales revenue. The higher the ratio, the more overvalued a company is.

Mining stocks valuation in terms of EV-to-Sales ratio. Source: MinerMetrics
Mining stocks valuation in terms of EV-to-Hashrate ratio. Source: MinerMetrics