Best Bitcoin Stocks To Consider - November 4th

Key Points

• IREN, Riot Platforms, and TeraWulf were identified as Bitcoin stocks to watch because they had the highest dollar trading volume among Bitcoin-related stocks in recent days. Their businesses include Bitcoin mining and, in Riot’s case, data-center hosting and engineering.
• Wednesday’s moves were mixed: IREN fell $2.55 to $21.91, Riot rose $1.66 to $15.68, and TeraWulf declined $0.69 to $11.84. Each traded below its 50-day and 200-day moving averages.
• The stocks carry substantial risk beyond Bitcoin price exposure: all three have high betas, and TeraWulf reported a notably high debt-to-equity ratio of 27.25.

IREN, Riot Platforms, and TeraWulf are the three Bitcoin stocks to watch today, according to MarketBeat's stock screener tool. Bitcoin stocks are shares of publicly traded companies whose businesses or financial performance are significantly tied to Bitcoin, such as Bitcoin miners, cryptocurrency exchanges, or firms that hold Bitcoin on their balance sheets. They offer investors indirect exposure to Bitcoin’s price movements, but their returns can also be affected by company-specific factors, regulations, operating costs, and broader market conditions. These companies had the highest dollar trading volume of any Bitcoin stocks within the last several days.

IREN (IREN)

IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.

IREN traded down $2.55 during trading on Wednesday, reaching $21.91. The company had a trading volume of 40,151,366 shares, compared to its average volume of 43,669,637. The firm's 50-day simple moving average is $37.09 and its 200 day simple moving average is $44.11. The company has a market cap of $8.64 billion, a price-to-earnings ratio of -9.32 and a beta of 4.33. IREN has a 12-month low of $21.05 and a 12-month high of $76.87. The company has a debt-to-equity ratio of 1.80, a quick ratio of 3.55 and a current ratio of 3.55.

Read Our Latest Research Report on IREN

Riot Platforms (RIOT)

Riot Platforms, Inc., together with its subsidiaries, operates as a bitcoin mining company in North America. The company operates through three segments: Bitcoin Mining, Data Center Hosting, and Engineering. It also provides co-location services for institutional-scale bitcoin mining companies; critical infrastructure and workforce for institutional-scale miners to deploy and operate their miners; operation of data centers; and maintenance/management of computing capacity.

NASDAQ RIOT traded up $1.66 on Wednesday, hitting $15.68. 53,308,819 shares of the company were exchanged, compared to its average volume of 18,666,197. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.59 and a quick ratio of 1.59. Riot Platforms has a twelve month low of $11.50 and a twelve month high of $30.32. The firm has a market capitalization of $5.88 billion, a P/E ratio of -4.04 and a beta of 3.91. The company's 50 day moving average price is $18.49 and its 200-day moving average price is $19.35.

Read Our Latest Research Report on RIOT

TeraWulf (WULF)

Shares of WULF traded down $0.69 during midday trading on Wednesday, hitting $11.84. The stock had a trading volume of 40,679,025 shares, compared to its average volume of 32,543,637. TeraWulf has a fifty-two week low of $10.35 and a fifty-two week high of $29.84. The business has a 50-day simple moving average of $14.52 and a two-hundred day simple moving average of $17.99. The firm has a market cap of $5.91 billion, a P/E ratio of -2.70 and a beta of 4.00. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25.

Read Our Latest Research Report on WULF

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.