Blockchain Companies: Expectation vs Reality

2022年9月2日

Cryptocurrency bubble?

When analyzing the financial data of companies in the blockchain/cryptoassets area, more specifically the EPS (Earnings per Share), we can see a huge discrepancy between expectation and reality.
It should be noted that some of these companies have never made a profit during their entire existence, and have negative cash flow.
The question is: to what extent has the market already priced in these negative results?
Would there be more room to fall?

Below is the concept of EPS, and shortly after a snapshot of the current EPS versus expected EPS, from the main companies in the cryptocurrency and blockchain area.
I'm not optimistic about this data, unless there's something that only I didn't see.

What is basic EPS?
Earnings per Share is the amount of earnings per share of issued, ordinary shares. When companies report financial results, earnings per share is one of the most commonly measured metrics.
(TradingView)

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Companies analyzed:

Marathon


Riot Blockchain


Hut 8 Mining


Coinbase


Bitfarms


BitNile


CleanSpark


Core Scientific


Argo Blockchain


Canaan


Hive Blockchain


Digital Bit


Galaxy Digital


BIT Mining


Valour


Ebang


Greenidge


Iren


The Blockchain Group


TeraWulf


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ETFs analyzed:

Proshares Bitcoin Strategy


Grayscale Ethereum Trust


Grayscale Bitcoin Trust

2022年9月9日

註釋

Short squeeze: