<ul><li>CryptoQuant has introduced a framework for monitoring revenues of top public Bitcoin mining companies by tracking miners' addresses and BTC production.</li><li>The valuation methodology involves comparing market capitalization to annualized daily revenues using the Market Cap to Annualized Daily Revenues (MCAR) ratio, indicating whether companies are undervalued or overvalued.</li><li>According to CryptoQuant's analysis, WULF and MARA have the highest valuation multiples, suggesting they are priced at a premium, while IREN appears undervalued despite strong BTC production growth.</li><li>This valuation disparity presents opportunities for portfolio allocation strategies by favoring undervalued companies like IREN and reducing exposure to overvalued ones like WULF and MARA.</li></ul>

Are Bitcoin Mining Stocks Mispriced? Here’s What On-Chain Data Is Telling Investors

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