Better Bitcoin Stock: Riot Blockchain vs. Marathon Digital Holdings
Riot Blockchain (NASDAQ: RIOT) and Marathon Digital Holdings (NASDAQ: MARA) are both Bitcoin (CRYPTO: BTC) mining companies. Both originally operated completely different businesses before pivoting toward Bitcoin mining.
Riot was originally a medical device maker called Bioptix, but it abandoned that business four years ago and ordered Bitcoin mining equipment. Marathon was initially a patent holding company that generated most of its revenue through licensing fees, but it also rebranded itself as a Bitcoin mining company in 2020 and ordered mining equipment.
Those transformations were abrupt, but shares of Riot and Marathon skyrocketed as Bitcoin's price rallied toward an all-time high of over $68,000 last November. However, Bitcoin's price subsequently tumbled to about $31,000 (as of this writing) as rising interest rates drove investors away from riskier stocks and cryptocurrencies -- and both stocks crashed.
Source Fool.com
