Replies to post #765 on Hut 8 Corporation (HUT)

[davidsan]

I agree re HIVE, but with one qualifier:

HUT is at the top of my list for bitcoin miners, along with a couple other favorites, but I wanted to comment on your HIVE input specifically:

I do like HIVE, though for the reasons you stated, and others, I do not believe it will be a leader, simply a good addition to a diversified miner portfolio.

My qualifier is their decision to mine Ethereum from a longer term perspective. Shorter term, it puts them at a disadvantage relative to the stronger Bitcoin miners, which is why they finally started to grow their Bitcoin mining hashing capacity, and they are growing it nicely, it's just a catch up play. But longer term, once Ethereum 2.0 and its conversion to all "proof of stake" (currently transitioning, mostly proof of work, partly proof of stake), once E2.0 happens, they will have a significant amount of Ethereum on their books, maybe more than anyone if I remember correctly, and there is an advantage for the larger holders of staked Ethereum, they will earn more in fees which at that time will be much higher. No more earning coin from mining at that time, but much higher fees to be earned for staking, and HIVE could be one of or even the largest staker out there. Food for thought.

And, of course, the equipment used for mining Ethereum is more versatile, and some of the emerging blockchain applications can be very profitable for those with the equipment to leverage such.

So bottom line, HIVE is a legit investment, especially longer term, just IMHO not the best of the miners right now, not for maximizing near term appreciation.

[Spicknspan]

Always wondered what the point was on HIVE mining Ethereum.

All these stocks are getting clocked. Regardless of what they are mining.

Wonder if all these orders to buy mining machines are going to start being cancelled if crypto does not turn around soon.