Here is my take on BTC miners:
BTBT- Is arguably the shadiest NASDAQ miner in terms of management but it was lagging behind it's peers a few days ago before the pump. Today's pump is not justified and is mostly based on marketing/hype
MARA-just ordered enough miners to control about 10% of the total hashrate of btc. BUT, as it stands they're the most overvalued since it would take an entire year for them to receive shipments, deal with logistics, and go online. For all we know by the time they start actualizing their output claims, BTC bullrun might be over and they would be left with nothing. Their current capacity is a complete joke and it won't change in anyway for the next quarter at least, but I guess people will keep buying because of the hype
RIOT - The value is not justified in terms of fundamentals but it seems to follow the btc flows since it is the most popular miner on NASDAQ. I think this one will continue to run up with btc
Cleanspark- I can't give an opinion on this since I know nothing about their software biz
If you want actual undervalued miners, look to the Canadian tickers that aren't listed on NASDAQ yet.
Main 2 are Bitfarms(BFARF) and HUT8 mining (HUT). These two have the same fundamentals/mining capacity as riot but they're significantly lower in mkt cap since they're not on NASDAQ and most people don't even know how to buy them. They're both big enough to soon be listed on nasdaq. Essentially, buying right now could be a good strategy to front run the robinhood crowd/US retail.
I ran a mining op in 2013 so shill me other miners you want research on. Might take a few hours to go through them though