The crypto sector has seen a variety of companies emerge as cryptocurrencies continue to grow in popularity. These companies could be involved with cryptocurrency mining, digital currency trading and payments, as well as developing blockchain technology and linking it into existing industries or businesses. Coinbase Global Inc. (COIN), a cryptocurrency exchange and provider financial products, is one of the most prominent crypto stocks. Hut 8 Mining Corp. is another. This list may also include some traditional crypto-related companies.
While the cryptocurrency space is relatively new in its entirety, a crypto exchange-traded funds such as the Amplify Transformational Data Sharing ETF BLOK (BLOK) can serve as a useful benchmark. The BLOK has slightly underperformed other markets in crypto stocks over the last year. BLOK’s trailing 1-year total return was -20.3%. This is less than the Russell 1000 return of -17.2%. These market performance numbers and all statistics shown in the table below were as of September 30, 2022.
These are the top crypto stocks that offer the greatest value, the fastest growth rate, and the highest performance.
Best Value Crypto Stocks
These crypto stocks have the lowest 12-month-to-date (TTM), price-to sales (P/S), ratio. This ratio can be substituted for a rough estimate of a company’s worth for businesses in their early stages of development and industries that have experienced major shocks. If a business has higher sales, it will eventually make more profit. The P/S Ratio shows how much stock you are paying for every dollar of revenue.
Greenidge Generation Holdings Inc.Greenidge Generation Holdings manages cryptocurrency datacenters and power generation businesses, as well as mining facilities. Greenidge issued on September 12 an update regarding operations for August 2022. The company produced 301 bitcoins. This brings its total for the year to 1,771.
CleanSpark Inc.CleanSpark specializes in energy and bitcoin mining. The company is a bitcoin mining and renewable energy development company. CleanSpark announced on Sept. 9 that it would purchase a fully-functional Bitcoin mining plant in Sandersville, Georgia from Mawson Infrastructure Group Inc. for $33million. CleanSpark expects the transaction will improve its mining process by increasing its hashrate. CleanSpark will also purchase from Mawson 6,468 ASICs of the most recent generation of crypto mining devices, which are called ASICs. The transaction is estimated to cost approximately $9.5million.
Block Inc.Block offers managed payments, financial services products and hardware. Its Cash App platform makes it possible to deposit and withdraw bitcoin as well as make peer-to-peer payment. Cash app does NOT support any other cryptocurrency.
Fastest growing Crypto Stocks
These are the crypto stocks showing the highest year-over–year (YOY), sales growth for their most recent quarter. Investors may be able to identify profitable startups that are growing by increasing their sales. Accounting factors may have an impact on earnings per shares, and this can make it difficult to gauge the business’ overall strength. But sales growth can be misleading about a business’s strength. If the company does not have a plan to become profitable, it can be detrimental to grow sales of money-losing businesses.
Iris Energy Ltd.Iris Energy Ltd., an Australia-based Bitcoin mining company. It operates and owns proprietary bitcoin mining data centres that are powered with renewable energy.
CleanSpark Inc. Company description.
Core Scientific Inc.Core Scientific provides a service for cryptocurrency mining and data center providers. It owns data centers in Georgia. Kentucky. North Carolina. North Dakota. Texas. The company published an update and correction of its Aug. 11 Q22022 earnings report on August 22. The company issued an update and correction to its Aug. 11 Q2 2022 earnings report on Aug. 22. Net losses increased dramatically from $3.4million in the previous year quarter. This was due primarily to a $790.8 Million impairment of goodwill, as well impairment of digital asset. Revenue more than doubled from year to year (YOY) due to an increase in digital asset mining and hosting revenue.
Crypto Stocks With the Best Performance
These are the crypto stocks which had the smallest decreases in total return during the past 12 month out of all the companies we reviewed.
Marathon Digital Holdings Inc. Marathon Digital Holdings Inc. – Marathon Digital Holdings, a company that develops digital assets and is involved in the mining of cryptocurrency. Its primary focus lies on the blockchain ecosystem and creating digital assets. Marathon reported its Q2 2022 earnings results August 8. As revenue fell, the net loss of Marathon grew dramatically to $191.6million. Factors such as the fall in the bitcoin price, maintenance, and weather issues had an impact on results.
Coinbase Global Inc.Coinbase Global Inc. is a financial tech company. It is a place where you can transact crypto assets for both retail and institutional customers. It offers market data and services, as well as financial infrastructure products.
HIVE Blockchain Technologies Ltd.:HIVE Blockchain Technologies Ltd., a Canada-based cryptocurrency mining business, focuses on connecting the blockchain sector and traditional capital markets. It mines digital currencies, such as bitcoin, at its data centres in Canada, Sweden and Iceland. HIVE reported an August 2022 record monthly production of 290.4 Bitcoin. It also produced more ethereum than 3000 (ETH).
