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[Logo]( Editor’s Note It’s Friday. Time to give you a stock pick from our sister newsletter, The Spill, so you can think about it over the weekend and maybe make a move Monday morning. While The Juice helps you be better with money across the board, The Spill focuses on stocks financial pros are researching and judges how good of buys they are. If you’re already sold, [you can sign up for The Spill – for free – here](. [-facebook-share]( [-twitter-share]( [-linkedin-share]( [-email-share](mailto:?body= %3Cbr+%2F%3E%0A%3Cb%3ENotice%3C%2Fb%3E%3A++Undefined+property%3A+stdClass%3A%3A%24previewText+in+%3Cb%3E%2Fvar%2Fwww%2Fhtml%2Fnl_forms%2Fsrc%2FICTheJuiceAlternate%2Fautomate-ic-article.php%3C%2Fb%3E+on+line+%3Cb%3E98%3C%2Fb%3E%3Cbr+%2F%3E%0Ahttps%3A%2F%2Finvestingchannel.com%2F%3Fp%3D619025?utm_medium=ic-nl&utm_source=119780 ) Proprietary Data Insights Financial Pros’ Top Bitcoin Stock Searches in the Last Month Rank Ticker Name Searches
#1 [RIOT]( Riot 223
#2 [MARA]( Marathon Digital 71
#3 [SNOW]( Snowflake 43
#4 [COIN]( Coinbase 17
#5 [HUT]( Hut 8 1
#ad [Top 7 Best Stocks to Buy in Summer]( Brought to you by [Weiss Ratings]( [What is Nvidia’s New $1 Trillion Super Project?]( [ Weiss Ratings - What is Nvidiaâs New $1 Trillion Super Project?]( Nvidia continues to steamroll every stop sign in its path … Every time the mass media, or some “expert” says it can’t go any higher, Nvidia’s stock just explodes through the latest ceiling placed on it. In fact, Nvidia is now up 710% since the current AI boom began … And it’s soared 25-fold in the past five years. Thanks to its powerful artificial intelligence chips, and shrewd business decisions by the company’s leadership, Nvidia continues to rise. That’s why, on its most recent earnings call, Nvidia made a big announcement. After showing record quarterly revenues yet again … This time to the tune of $26 billion. Nvidia announced a 10-for-1 forward stock split that has began. [Click here to find out more.]( Jim Cramer is Right About This Bitcoin Stock People love to follow Jim Cramer’s calls, whether to follow his advice or watch him crash and burn. However, we agree with him about one stock - Marathon Digital (MARA). Many traders use this crypto miner as a proxy for Bitcoin prices. But is it an investible product? Here’s what we think. Marathon Digital’s Business One of the largest publicly traded miners, Marathon Digital operates large Bitcoin mining facilities at 11 facilities across three continents, the majority of which are in the U.S. [Operations] [Source: Marathon Digital May 2024 Investor Presentation]( Mining operations turn a profit based on a pretty simple formula: Profit = Mining revenues - infrastructure - personnel - energy Consequently, higher Bitcoin prices help the company, while higher energy prices hurt them. The company uses a combination of off-grid energy from landfill methan as well as other fossil fuels and some renewables. [Site location] [Source: Marathon Digital May 2024 Investor Presentation]( Revenues are split into owned mining services (87% of revenues) and hosting services for other miners (13% of revenues). YoY, Marathon’s cost per hash rate per day, basically its mining efficiency, improved from $53.7 to $45.2. Our biggest issue is the indirect exposure to Bitcoin. You can now own Bitcoins rather easily, whether you hold the digital currency itself or an ETF. Miners come with a lot more uncertainty. Financials [Financials] Source: Stock Analysis Marathon Digital’s revenues have expanded as the price of Bitcoin has improved. And its margins look good… …but its cash from operations is negative. That number doubled from -$176.5 million in 2022 to -$315.7 million in 2023. We see this as income statement manipulation through non-cash items they use to reduce expenses. Don’t let them fool you. Look, how did the balance sheet go from $103.7 million in cash to $357.3 million while total debt halved from $783.5 million to $326.1 million? The total number of shares outstanding increased from 145.6 million to 242.8 million. If you look at the grid above, you’ll see just how much the company has diluted its stock over the years. Valuation [Valuation] Source: Seeking Alpha Neither Marathon Digital nor rival miners Riot (RIOT) or Hut 8 (HUT) are cash flow positive. That should tell you something. Any P/E measure is artificially inflated by depreciating assets over time and other accounting tricks. Adjacent companies like Coinbase (COIN) aren’t directly tied to the price of Bitcoin but profit from cryptocurrency transactions in general. Snowflake (SNOW) is simply a company that holds a lot of Bitcoins. Growth [Growth] Source: Seeking Alpha Revenue growth isn’t a problem for miners when expanding their mining footprint, and Bitcoin prices rise. Yet, the EPS growth can be deceiving as we noted above. Profitability [Profit] Source: Seeking Alpha It’s fascinating that Marathon Digital can have such amazing margins yet burn cash. No wonder their return on assets is negative. [URGENT: You Only Have DAYS Left to Tap This Incredible 12% Payout]( The clock is ticking toward the "drop date" of my top income fund's next big dividend, and the time to make our move is now. Huge payouts of $1,000, $2,000 and $3,000+ are on the table here. [Click here to get the full story.]([Ad] Our Opinion 0/10 We’ve gotten even more bearish on this stock than in the past. The obvious income statement manipulation smacks of serious problems. Traders might love to play options on this company. But as for a real investment, we agree with Jim Cramer, just own Bitcoin instead. 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