Market Cap: $2,622,316,575,867
24h Vol: $89,304,658,576
Cryptocurrencies: 30032
Markets: 115395
Cryptocurrencies: 30032
Markets: 115395
Market Cap: $2,622,316,575,867     
24h Vol: $89,304,658,576
Seeking Alpha 2022-12-28 14:32:58

Riot Blockchain is Cantor's top crypto pick for 2023 due to mining prowess

Riot Blockchain is Cantor's top crypto pick for 2023 due to mining prowess
Cantor Fitzgerald selected Riot Blockchain ( NASDAQ: RIOT ) as its top pick in the cryptocurrency space in 2023, signaling confidence in its ability to mine more bitcoin than peers and reinvest the proceeds to increase scale. "With a best-in-class balance sheet ($255M in cash and no debt), RIOT has, in our view, enough flexibility to navigate a 'crypto-winter', making shares attractive at current levels," said the research firm. Cantor noted that Riot's ( RIOT ) gross margin remains "best-in-class" at ~65% despite bitcoin being down ~65%, thanks to its "unique" energy agreements. The broker's bullish stance is in line with Wall Street analysts' ratings on Riot ( RIOT ). However, it contrasts sharply with SA Quant's Strong Sell rating on the stock, owing to its inferior profitability and decelerating momentum . SA contributor Leo Imasuen rates Riot ( RIOT ) Sell as it will likely remain structurally unprofitable for much of 2023 .
esptco-banner img
Latest News

Videos

  • Top 5 Graphic Cards for Mining in 2022 : Discover the Best GPUs for Cryptocurrency!

  • What is TRON (TRX)? EXPLAINED!

  • Future Of Cryptocurrency: What Are Your thoughts On Future of Cryptocurrency? Explained By Cryptela

  • What Is Better ? Hardware Mining or Software Mining? Pros & Cons Fully Explained!

Our Partners

Hashing Ad Space
Inbound Junction
Magic Logix
Asimi
Crypto Marketing Agency, FINPR
Chainwire