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The largest Bitcoin chances are now on the stock market

There are still crypto stocks where investors can get in early.

•• 7 Min
The largest Bitcoin chances are now on the stock market

Cathie Wood is probably the most important person in the financial world right now. Her meteoric rise over the past two years as perhaps the best stick picker in the world is well documented. But she's also a star proponent of Bitcoin and has a strong exposure to the cryptocurrency through a number of large portfolio holdings in her famous Ark funds. During a webcast on Thursday hosted by CBOE, Wood released a new message for other Bitcoin enthusiasts, and one that could push the price of the coin up further: don't trade in Bitcoin until the tax code changes. She believes the law will change and that spending on purchases by using profits from successful Bitcoin investments could unnecessarily result in excessive tax penalties. Why could this help push BTC even higher? Because it gives people another reason to secure supply in the secondary market. If you are a Bitcoin enthusiast and recently logged huge investment gains during the steep rally of the past 6-8 months, then you control some of the supply in the market. If you use part of this offer to e.g. buy a riding lawn mower from Home Depot (which accept Bitcoin as payment) then Home Depot will take your BTC and probably sell it for dollars right away. Most places that accept Bitcoin as a form of payment will prefer to convert BTC to USD upon receipt. Hence, the popularization of Wood's message could become another tailwind for further profits in the coin. With that in mind, let's take a look at some of the current top ranks among crypto stocks including: Bit Digital Inc (NASDAQ: BTBT), Riot Blockchain Inc (NASDAQ: RIOT), ISW Holdings Ord Shs (OTCMKTS: ISWH), and Marathon Patent Group Inc (NASDAQ: MARA). Bit Digital Inc (NASDAQ: BTBT) trumpets itself as the bitcoin company dedicated to the global integration of resources for bitcoin and bitcoin mining. It started mining bitcoin in early 2020 and currently operates 2,253.5 PH / S bitcoin hash rate across the bitcoin network, making it one of the largest bitcoin mining companies on NASDAQ. Bit Digital Inc. (NASDAQ: BTBT) recently announced its unaudited Bitcoin production data for the month ended January 31, 2021. During the month, the company earned 424.7 bitcoins, which translates to approximately $ 14.8 million in revenue. As of January 31, 2021, the company held 488.5 bitcoins in its portfolio, compared to 262.6 bitcoins as of December 31, 2021. "Bit Digital plans to publish production reports on a regular basis to support key milestones," said Interim CEO and CFO Erke Huang. "We believe in our leadership position in the mining sector and will endeavor to protect both our brand's reputation and the interests of our stakeholders in Bit Digital." Overall, the share has fallen by around -15% in the last five days with above-average trading volume. All in all, not a particularly friendly band, but one that could ultimately offer some new possibilities. Bit Digital Inc. (NASDAQ: BTBT) recently announced that revenue from its bitcoin mining business was $ 7.91 million for the quarter ended December 2020. In the same report, the company found that the number of bitcoins earned from the bitcoin mining business was 739.51. Net loss from discontinued operations was $ 0.10 million on net income of $ 54 and earnings per share of $ 0.00, compared with a net loss of $ 3.0 million and loss per share of $ 0.20 same period last year. Riot Blockchain Inc. (NASDAQ: RIOT) is expanding and modernizing its mining operations by securing the most energy-efficient miners currently available. The company also has certain non-controlling investments in blockchain technology companies.   Riot is headquartered in Castle Rock, Colorado, and the company's mining facility operates out of Upstate New York under a co-location hosting agreement with Coinmint. Riot Blockchain Inc. (NASDAQ: RIOT) recently announced that it will achieve an estimated hash rate capacity of 1.06 exahash per second with the deployment of the newly received 2,002 S19 Pro Antminer. "Exceeding 1 EH / s in hash rate capacity is an important milestone for the company," said Jason Les, CEO of Riot. "While we are proud of this achievement, we see it as the successful completion of just one of many steps in our ongoing growth plan. Riot continues to receive and implement next-generation miners from Bitmain and remains on schedule to increase our current capacity through the fourth quarter More than triple in 2021. " The stock has suffered a bit lately, with shares of RIOT taking a hit in recent action, down about -20% over the past week. Riot Blockchain Inc (NASDAQ: RIOT) moved in sales of $ 2.5M in its most recently reported quarterly results, representing top-line growth of 41.6%. In addition, the company has a strong balance sheet, with cash well in excess of current liabilities ($ 39.1 million versus $ 1.3 million). ISW Holdings Ord Shs (OTCMKTS: ISWH) recently signed a partnership agreement with Bit5ive and began development of the POD5IVE Datacenter Mining Pod early last year. This process has borne fruit with the assembly, shipping, and full commissioning of the POD5IVE. The POD5IVE is now actively mining Bitcoin in the Bit5ive renewable energy project in Pennsylvania. The POD5IVE data center mining solution offers next-generation dynamic self-management functionality, plug-and-play operation, virtually zero maintenance, and an industry-leading 1.06 for power efficiency. ISW Holdings Inc. (OTCMKTS: ISWH) announced this morning that it will be keynote address at the Mining Disrupt Conference at the Miami Airport Convention Center in Miami, FL, July 20-21, 2021. As the elite sponsor of the event, ISW Holdings will have access to a number of valuable branding amenities including: Logo on the outside of the conference building on a 10'x40 'foot banner, on social media, on the website, on the Sponsor logo wall and in other marketing materials, a 15-minute keynote, 2 panel slots, up to 10 VIP lounge passes, up to 5 VIP experience passes and a 10 × 20 end cap stand. Robert Collazo, CEO of Bit5ive, LLC, the company's primary partner in its Cryptocurrency Mining and Mining Equipment business, will be the primary presenter on behalf of ISW Holdings in its keynote presentation slot.   "Our model aims to increase shareholder value in the cryptocurrency space, both through our own mining operations and by marketing an equipment solution to other companies and projects setting up serious cryptocurrency mining operations," commented Alonzo Pierce , President and Chairman of ISW Holdings. "Building our brand visibility is essential to the latter goal. And the Mining Disrupt Conference is fast becoming one of the most important events in building that presence." The company noted in its notice that it continues to expand its own mining capabilities, with plans to bring several additional pods online this year. However, it also collects data from the pod mining operations to market the POD5IVE data center to other companies and individuals interested in a stand-alone, industry-leading cryptocurrency mining solution. ISW Holdings Ord Shs (OTCMKTS: ISWH) has shown strong growth, with seven consecutive quarters of strong sequential growth. The most recent quarter put the company on an annual run rate to generate more than $ 1.5 million in revenue, not counting what is brewing in its crypto mining and mining equipment segment in the coming months as it continues to expand the company. Marathon Patent Group Inc. (NASDAQ: MARA) currently operates its own data center in Hardin MT with a maximum output of 105 megawatts. Once fully operational, the company will have 21,500 Antminer Bitmain S-19 Pro Bitcoin miners operating at this facility. MARA also owns 2,060 advanced ASIC bitcoin miners in a jointly operated facility in North Dakota. Marathon Patent Group Inc. (NASDAQ: MARA) recently announced that it has appointed William Beam as its controller. According to the announcement, Mr. Beam joins the Marathon team as a senior finance manager with extensive finance, accounting, administration and development experience in SaaS industries, regulated markets, and resort and casino operations. His career spans more than 20 years with a proven ability to improve operations, influence business growth and maximize profits. He is valued for his wide range of knowledge and experience, creative problem-solving skills, and recruiting and managing high-performance teams. He brings an entrepreneurial mindset to the creation and strategic development of companies in different phases and industries. While this is a clear factor, it was incorporated into a trading band that featured quite a dominant offering, which was not the type of action MARA shareholders really wanted to see. Overall, the share has fallen by around -18% in the last five days with above-average trading volume. All in all, not a particularly friendly band, but one that could ultimately offer some new possibilities. Marathon Patent Group Inc. (NASDAQ: MARA) posted sales of $ 2.6 million in its most recent quarterly report, representing a sales growth of 854.2%. In addition, the company has a strong balance sheet, with cash well in excess of current liabilities ($ 143.6 million versus $ 1.4 million).

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