BTC Miners Are on a Roll! 🛼
Did you catch Paul's livestream?
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Dan: We’re #BOP 🚀 on BTC Miners!
Bitcoin USD (BTC-USD) is living up to its character.
If you’ve been in this space for as long as us, you shouldn’t be surprised to see BTC fall from $70K to $60K within a month.
This is by no means uncommon. It goes both ways.
However, it’s important to have a longer outlook and realize that even with this $10K pullback, BTC is still up 36% this year.
Now, while we’re extremely bullish, optimistic, and positive (#BOP) on BTC, we hold several BTC miners that we believe could deliver even bigger gains . . .
Miners Are on Fire 🔥
BTC miners have been on an absolute tear!
Even with BTC dropping this past month, nearly all of our miners are well in the green.
And today, I want to cover one with massive potential . . .
We placed Hut 8 Corp. (Nasdaq: HUT) in our Diamond Tier model portfolio on June 11.
And now, just two weeks later, we’re up 26% on this position — even with the pullback!
As this bull run continues, we’ll continue to see pullbacks — after all, nothing goes up in a straight line.
But we believe BTC miners, like HUT 0.00%↑, will see a drastic rise in stock price as leveraged bets on BTC.
In other words, having a position in HUT 0.00%↑ could produce huge gains!
Making Moves 🕺
HUT 0.00%↑ holds 9,102 BTC on its balance sheet — one of the biggest positions of all the publicly traded miners.
With BTC’s current price of $60K, 50% of HUT 0.00%↑’s $1.1 billion market cap is represented in BTC.
As the price of BTC rises, it’s likely that HUT 0.00%↑ will as well, as its balance sheet grows to represent more of its market cap.
Given the historic price action of miners, we believe it could trade at a much higher multiple of its BTC holdings.
But that’s not all . . .
HUT 0.00%↑ has a current mining power of 5.5 EH/s. This is smaller than most mining companies.
But just yesterday, HUT 0.00%↑ announced a $150 million strategic investment from Coatue Management LLC to partner in building a next-generation AI infrastructure platform.
This funding will accelerate HUT 0.00%↑’s data center portfolio growth and reinforce its position as a market leader in sourcing, developing, and operating energy infrastructure.
This partnership will advance and incorporate AI in BTC mining practices.
This will help grow the ecosystem significantly and enable HUT 0.00%↑ to capitalize on new computing capacity.
Many traditional data center operators are failing to meet demand for AI compute capacity.
This is largely due to power shortages, long lead times to bring new capacity online, and the extensive upgrades required for existing data centers to support the latest generation of high-density compute.
HUT 0.00%↑ believes it can leverage its proven ability to develop and operate complex energy infrastructure to address unmet demand, emerging as a leader in the AI infrastructure market.
Final Thoughts 💭
BTC is extremely volatile.
Leveraged positions on it — such as crypto miners — are only more so!
It’s important to understand that price swings can happen suddenly and drastically.
We’ll continue to hold HUT 0.00%↑ in our Diamond Tier model portfolio.
For access to our complete list of miners from this portfolio, including regular updates on the entire portfolio and trade recommendations, check out our Diamond Tier by clicking here. 👈
#GBC100: Tuesday, June 25, 2024
The #GBC100 is up 1.04% today.
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Tomorrow: Dean will cover a DeFi lending platform. 👀 Stay tuned!
Today, Paul went live on our YouTube channel. 📺
In his livestream, Paul discusses a company with incredible potential . . .
In fact, this is a stock he said could rise 1,000% in a year — and it’s in the early stages of a rocket surge. 🚀
For all the details, be sure to watch the video below! 🤩
On Tuesday, June 25, 2024, we hope you enjoyed this video! For more content from the team, subscribe to our YouTube channel by clicking here. 👈
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Yes it seems you’ve realized there’s a sector within the mining sector a sub-sector as you will that is helping HPC AI companies. These miners are far outperforming the ones who are not in this HPC sector like MARA.