April 6, 2022, 11:13AM EDT
• 12 min read
- Riot Blockchain and Marathon Digital managed to grow their Bitcoin mining production and hashrate significantly over 2021.
- Despite the initial doubt and scrutiny from the public and regulators, they have proven a successful business pivot into Bitcoin mining.
- The vital equity financing starting in 2020 helped the two place large pre-orders for the newest Bitcoin ASIC miners before the market rally.
- We take a further analysis based on the evolution of their strategy and key financial metrics over the past few years.