Citing multiple analyst reports, Cointelegraph reported on the 24th (local time) that investors are looking into the fourth quarter results of major bitcoin mining companies.
In announcing its earnings, the company said it was paying close attention to how much its AI computing and semiconductor sales divisions contributed to new revenue sources.
Bitcoin mining company Riot
Platforms (RIOT) and Bitdeer (BTDR) will report their financial results on February 24th and 25th, respectively, while Marathon Digital (MARA) and Core
Scientific (CORZ) is scheduled to announce its financial results on February 26. Last November, Riot, BitDeer and Marathon announced results that fell short of expectations;
This was the result of the impact of a decrease in mining margins after the halving. Bitcoin undergoes a halving approximately every four years, during which the mining reward per block is halved. After the halving in April 2024,
Mining rewards have been reduced from 6.25 BTC to 3.125 BTC per block. However, analysts say that the cost of renting high-performance hardware for AI models and specialized ASICs (bitcoin-based cryptocurrencies) is increasing.
HC Wainwright & Co. (HC) is forecasting that businesses such as sales of semiconductors for coin mining will be able to fully compensate for the decline in mining revenue.
Analysts at Wainwright & Co. said that BitDeer's third-quarter earnings announcement in November 2023 will see demand for ASIC semiconductors, which BitDeer developed for external customers for the first time, grow.
They noted that BitDea's ASIC market competitiveness cannot be underestimated, and revised their investment opinion on BTDR shares to "buy," with a target
It set the stock price at $18. As of Feb. 24, BTDR shares were trading at about $13, according to Google Finance data.
Meanwhile, Riot has revised down its 2025 hash rate forecast twice.
The decision comes as the company is reviewing the expansion of its mining business to offer AI and high-performance computing (HPC) services, analysts said in a January report.
Riot also maintains a buy opinion and has a target price of $17. As of the 24th, Riot's stock price is $10. Large Bitcoin mining companies are looking to acquire power supply and data centers.
In February 2024, BitDeer announced it plans to invest $100 million to build its own power plant and data center in Alberta, Canada.
Marathon management said in the third quarter earnings announcement in November 2023, "We plan to further expand and diversify our portfolio of owned and operated sites. This will significantly
We expect this to result in significant cost savings."
2025/02/25 15:09 KST
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