I recently published a blog post analyzing the quality of bitcoin mining companies, where Argo and Riot came out as winners. This blog post complements my first blog post by analyzing the valuation of bitcoin mining companies.
How do you value a bitcoin mining company? As with all companies, ideally, you should apply a discounted cash flow analysis, but this is beyond the scope of this blog post. In this blog post, I will compare eight public bitcoin mining companies' valuations looking first at their assets and then their income statement.