Zacks Thematic Screens offer investors a powerful tool to navigate the evolving financial landscape, providing insights into 30 dynamic investment themes shaping the future. From groundbreaking technologies to sustainable energy solutions and healthcare breakthroughs, these screens empower investors to align their portfolios with their convictions. This analysis leverages the Zacks Cryptocurrency & Blockchain Technology screen to evaluate two prominent players in the digital asset space: Marathon Digital (MARA) and Riot Platforms (RIOT).
Table Content:
Decoding Cryptocurrency and Blockchain Technology
Cryptocurrencies, secure digital currencies operating on decentralized blockchain networks, are revolutionizing finance. Blockchain’s distributed ledger technology ensures transparency and immutability, recording transactions in chronologically linked “blocks” resistant to manipulation. Beyond cryptocurrencies, blockchain’s transformative potential extends to diverse sectors, including supply chain management, healthcare, finance, and voting systems. Companies within this theme encompass both blockchain infrastructure developers and technology implementers, such as cryptocurrency mining operations.
Marathon Digital: A Bitcoin Mining Powerhouse
Marathon Digital, a publicly traded company, is a leading Bitcoin miner in North America with substantial Bitcoin holdings. The company’s strategic focus on Bitcoin mining and its commitment to the broader blockchain ecosystem positions it for growth in the expanding digital asset market. Over the past three months, Marathon Digital shares have surged nearly 90%, a remarkable rebound considering the stock’s 40% decline over the preceding three years.
As of Q3 2024, Marathon Digital held 26,747 Bitcoin, a significant increase from 15,174 Bitcoin in the same period last year. This substantial growth reflects the company’s aggressive mining and acquisition strategy, with 2,070 BTC mined and 6,210 BTC purchased during the quarter.
Riot Platforms: Expanding Bitcoin Mining Operations
Riot Platforms is another key player in the Bitcoin mining space, developing, operating, and supporting blockchain technologies with a primary focus on Bitcoin mining and digital infrastructure. The company’s mining facilities in central Texas and Kentucky contribute to its growing Bitcoin production capacity. Mirroring Marathon Digital’s recent success, RIOT shares have also soared over 90% in the last three months.
Riot Platforms reported strong Q3 results, producing 1,104 BTC. The company’s self-mining operations have yielded a total of 10,427 BTC held at the end of the quarter, demonstrating its operational efficiency and commitment to organic Bitcoin acquisition.
Conclusion: Harnessing Zacks Thematic Screens for Crypto Investment
Zacks Thematic Screens provide investors with invaluable resources for identifying promising investment opportunities in emerging themes. Both Marathon Digital and Riot Platforms, highlighted by the Zacks Cryptocurrency & Blockchain Technology screen, represent compelling investment options for those seeking exposure to the dynamic cryptocurrency market. These companies’ recent performance and strategic positioning suggest continued growth potential in the evolving digital asset landscape. For further investment insights and recommendations, explore Zacks Investment Research’s comprehensive analysis and resources.
