Bitcoin miners have gotten battered this year, their stocks declining by more than 50% on average as the price of bitcoin slumped following last year’s bull run.
Such market conditions have led to investor concerns that miners won’t be able to raise the funds they need for growth because building a large-scale mining operation is very capital intensive.
Lewis kept his buy rating on all four mining stocks he covers – Riot Blockchain – and remains optimistic about the longer-term outlook for the industry.
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