Jaran Mellerud

Bitcoin mining analyst mainly focusing on public mining companies.

Analyzing Electricity Prices' Impact on Bitcoin Mining Profitability in Bull and Bear Markets

The importance of minimizing electricity costs only becomes evident during bear markets. In this article, I show how little the electricity price impacted bitcoin mining profitability during the previous bull market and discuss how it incentivized miners to prioritize growth over efficiency.

Jaran Mellerud
Jaran Mellerud

Timing the Market: Analyzing the Return of ASIC Purchases at Different Dates in 2022

Timing the ASIC market beats time in the market - at least it has in 2022. This article discusses how machine prices have developed over the past year and shows the return differences between purchasing machines on different dates.

Jaran Mellerud
Jaran Mellerud
ASIC Market

Comparing the Valuations of Bitcoin Mining Stocks

Bitcoin mining stocks have been in free fall for the past year, leading to depressed valuations that could give some opportunities to risk-tolerant value investors. This article analyzes the valuations of public miners to find out who could be the most undervalued.

Jaran Mellerud
Jaran Mellerud

Highlights from Bitfarms’ Q3 Report

Bitfarms just revealed the state of its finances and operations in its latest quarterly report. How is it going with this international bitcoin mining company? Find out in this article.

Jaran Mellerud
Jaran Mellerud

Highlights from Hut 8’s Q3 Report

Hut 8 just revealed the state of its finances and operations in its latest quarterly report. How is it going with this Canadian bitcoin miner and data center operator? Find out in this article.

Jaran Mellerud
Jaran Mellerud

FTX… What Happens Next?

One of the world’s leading crypto exchanges just went bust, leaving the entire industry in shock. This article explains the situation and discusses how it could impact the crypto market and the bitcoin mining industry going forward.

Jaran Mellerud
Hashrate Index Newsletter

Highlights from Riot Blockchain's Q3 Report

Riot Blockchain, one of the largest publicly traded bitcoin miners, just revealed the state of its finances and operations in its latest quarterly report. How is it going with the Texas-based miner? Find out in this article.

Jaran Mellerud
Jaran Mellerud

An overview of the debt burdens of the public bitcoin miners

Some public bitcoin miners are being eaten alive by the bear market, with a common trait among them being that they all have high levels of debt. This article reveals who has taken on the most debt relative to equity and who has been the most prudent in avoiding debt.

Jaran Mellerud
Jaran Mellerud