There has been an explosion of cryptocurrency-related companies in recent years. These companies are involved in crypto mining, digital currencies exchange and payments, and in developing blockchain technology to link it with existing businesses and industries. Coinbase Global Inc.(COIN), a cryptocurrency exchange, provider of financial services and Bitcoin mining company Hut 8 Mining Corp. This list could also contain traditional businesses that operate in the crypto space.
Although cryptocurrency is relatively new, a crypto trading fund such as the Amplify Transformational Data Sharing ETF BLOK is a good reference. The BLOK has represented crypto stocks slightly better than the broader markets over the last one year. BLOK provided a 1-year trailing total returns of -20.3%. This is slightly lower than the Russell 1000’s return at -17.2%. These market performance numbers, as well as all statistics displayed in the following tables, are as of September 30, 20,22.
Here are the top 3 crypto stocks with highest value, fastest growing, and highest performance.
Best Value Crypto Stocks
These are the crypto stock with the lowest 12-month (TTM), price to-sales (P/S), ratio. This is a good way to gauge a business’s potential value, especially for startups or companies dealing with major shocks. A company with more sales will eventually produce more profit if it achieves or returns profitability. The P/S rate shows how much you are paying for stock for each dollar of sales.
- Greenidge Generation Holdings Inc.Greenidge Generation Holdings owns power generation and cryptocurrency datacenter businesses. It also operates mining facilities. Greenidge shared an operational update on August 2022, which was released on Sept. 12. The company produced around 301 Bitcoin, which brought its year-total (YTD), to 1,771.
- CleanSpark Inc.CleanSpark Inc., is a cryptocurrency mining and energy-tech company. The company creates and mines cryptocurrency. CleanSpark purchased for $33M a turnkey Bitcoin mine in Sandersville (Georgia) from Mawson Infrastructure Group Inc. CleanSpark will benefit from the increased hashrate of this transaction, which is expected to improve its mining process. CleanSpark is also buying 6,468 ASICs from Mawson, the latest generation in crypto mining machines. This transaction will cost about $9.5million.
- Block Inc.Block offer managed payment services and financial services products. Its Cash App platform allows users withdraw bitcoin, deposit it and make peer–to–peer payments. Cash app does not support other cryptocurrency.
Fastest-growing Crypto Stocks
These crypto stocks have the highest year over-year (YOY), growth in sales for the last quarter. Investors can choose to invest in startups that are still growing but have not reached profitability through rising sales. Accounting factors, such as the strength of the business, can significantly impact earnings per share. Unfortunately, sales growth can sometimes be misleading as it can indicate the strength and stability of a business. This is because sales growth on businesses that are losing money can be damaging if the company does not have a plan for reaching profitability.
- Iris Energy Ltd. Iris Energy Ltd. Iris Energy Ltd. (Australia) is a bitcoin mining company. It is a company that builds, owns and manages private bitcoin mining datacenters powered by renewable electricity.
- CleanSpark Inc.
- Core Scientific Inc.Core Scientific Inc. is a crypto mining and data center provider. It operates data centres in Georgia, Kentucky. North Carolina, North Dakota, North Dakota, Texas. The company issued an updated and corrected Aug. 11 Q22022 earnings statement on Aug. 22. Net losses rose dramatically to $810.5million compared to $3.4 million in prior year quarters. This was due in part to a $790.8million impairment and impairment of digital resources. The increase in hosting and digital asset revenue has driven an increase of more than twice the revenue year-over–year (YOY).
Crypto Stocks with the best performance
These are the crypto-stocks that showed the lowest total return declines over the past year of all the companies examined. Marathon Digital Holdings Inc. Marathon Digital Holdings Inc. Marathon Digital Holdings specializes in digital asset technology and the mining of crypto currencies. Its primary focus focuses on the blockchain ecosystem as well as the generation of digital assets. Marathon reported Q2 2022 earnings on August 8. Its net loss has risen to $191.6 Million YOY, as revenues declined. Some factors, including the decrease in bitcoin prices and maintenance and weather problems, had an adverse impact on the results.
Coinbase Global Inc: Coinbase Global Inc. are financial technology companies. It offers an online marketplace that allows users to transact digital assets. It also offers financial infrastructure products and market data as well analytics services.
HIVE Blockchain Technologies Ltd: HIVE Blockchain Technologies Ltd. HIVE Blockchain Technologies Ltd. A Canadian cryptocurrency mining company, HIVE Blockchain Technologies aims to link the blockchain sector to traditional capital and markets. It is able to mine digital currencies such bitcoin and other digital currencies at its data centers in Canada. Sweden. Iceland. HIVE recorded a monthly record production of 290.4 cryptocurrency in August 2022. It also produced more then 3,000 Ethereum (ETH).
