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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.
Footnotes
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