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As cryptocurrencies have proliferated in recent years, a diverse industry of companies has developed in the crypto space. These companies may be involved in cryptocurrency mining, digital currency exchange and payments, or in developing blockchain technology and linking it with existing industries and businesses. Some of the best-known crypto stocks include Coinbase Global Inc. (COIN), the cryptocurrency exchange and provider of financial products, and Bitcoin mining company Hut 8 Mining Corp. (HUT). Traditional companies with some operations in the crypto space may also be included in this list.
The cryptocurrency space is relatively new, but a useful benchmark is a crypto exchange-traded fund such as the Amplify Transformational Data Sharing ETF (BLOK). Crypto stocks as represented by BLOK have slightly underperformed the broader market in the last year. BLOK has provided a 1-year trailing total return of -20.3%, just behind the return of -17.2% for the Russell 1000. These market performance numbers above and all statistics in the tables below are as of Sept. 30, 2022.
Here are the top three crypto stocks with the best value, the fastest growth, and the best performance, respectively.
These are the crypto stocks with the lowest 12-month trailing (TTM) price-to-sales (P/S) ratio. For companies in early stages of development or industries suffering from major shocks, this can be substituted as a rough measure of a business’s value. A business with higher sales eventually could produce more profit when it either achieves or returns to profitability. The P/S ratio shows how much you’re paying for the stock for each dollar of sales generated.
^{Source: YCharts}
These are the crypto stocks with the highest year-over-year (YOY) sales growth for the most recent quarter. Rising sales can help investors pick out growing startups that have not yet reached profitability. In addition, earnings per share can be significantly influenced by accounting factors that may not reflect the overall strength of the business. However, sales growth can also be potentially misleading about the strength of a business, because growing sales on money-losing businesses can be harmful if the company has no plan to reach profitability.
^{Source: YCharts}
These are the crypto stocks that had the smallest declines in total return over the past 12 months out of the companies we looked at.
^{Source: YCharts}
YCharts. “Financial Data.”
Greenidge Generation Holdings Inc. "Greenidge Generation Provides August 2022 Operational Update."
Cleanspark Inc. "CleanSpark Announces Agreement with Mawson Infrastructure Group to Acquire Turnkey Bitcoin Mining Facility."
Core Scientific Inc. "CORRECTING and REPLACING Core Scientific Announces Second Quarter 2022 Results."
Marathon Digital Holdings Inc. "Marathon Digital Holdings Reports Second Quarter 2022 Results Along with Bitcoin Production and Mining Operation Updates for July 2022."
HIVE Blockchain Technologies Ltd. "HIVE Blockchain Provides August 2022 Production Update, Record Monthly BTC Production and Appointment of Gabriel Ibghy as General Counsel."
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