CleanSpark and Riot Platforms were placed at the top of the list due to leading the market in self-mining hashrate. Bernstein believes that these stocks will be able to outperform due to superior execution.
Earlier this month, CleanSpark managed to exceed 17 exahashes per second of operating hashrate. The company has enhanced its agreement with leading cryptocurrency mining device manufacturer Bitmain in order to upgrade its fleet with 100,000 S21 Pro ASIC miners. The new model will make it possible for ClearnSpark to achieve a 17% efficiency boost. CleanSpark CEO Zach Bradford recently stated that efficiency was"the most important variable" ahead of the upcoming halving event.
Mining stocks have taken a severe hit this year, with most of them losing more than half of their value. The upcoming block reward reduction is expected to have negative impact on miners in the short term . , gold bug Peter Schiff recently commented on the rout in Bitcoin mining stocks, suggesting that the largest cryptocurrency could be already in a stealth bear market.
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