Competition in the Bitcoin mining sector is intense, with Riot Platforms (NASDAQ: RIOT) and Marathon Digital (NASDAQ: MARA) emerging as the top contenders. While both are currently positioned at the forefront, there are numerous industry-specific factors that can help investors understand why one company is the actual Bitcoin (CRYPTO: BTC) mining leader. While Marathon finished sixth in total Bitcoin mining production last year, 2023 is a different story.
Michael Sonnenshein called his firm's courtroom victory over the SEC "overwhelming" in an interview with Yahoo Finance.
Bitcoin (CRYPTO: BTC) has shaken off some cobwebs, up more than 50% this year. Riding that momentum is one of the leading Bitcoin miners, Riot Platforms (NASDAQ: RIOT), up an astounding 210% in 2023 alone. The company released its Q2 2023 earnings report recently, and while it was a bit of a mixed bag, over the long term, Riot is in a position to dominate the Bitcoin mining industry.