RE: RIOT vs MARA vs ARB5 Nov 2021 23:14
Amanesia, the hash rate is accounted for in their mining per period values, afterall that is what the hash rate delivers.
The BTC holdings, are only a fraction of their Mcap, subtract that and we still have a much lower mcap per btc production than they do. Ergo we are either cheaper than them, or they are more expensive that us.
@ at 4000 Btc holding, that's worth 240m, call it 500m if accounting for a doubling+ of the BTC price, that's only 1/6th of their Mcap, not a huge amount.