Bitcoin Miner Riot Platforms RIOT Falls After Being Targeted by Short-Seller Kerrisdale

Riot Platforms, Inc. was incorporated in 1998 and is based in Castle Rock, Colorado. Wondering what the next stocks will be that hit it big, with solid fundamentals? Sign-up to receive the latest news and ratings for Riot Platforms and its competitors with MarketBeat’s FREE daily newsletter. Jason Les, Riot Platforms CEO, joins ‘Power Lunch’ to discuss if people are beginning to feel more comfortable with cryptocurrency, if Bitcoin ETFs are a net positive force to cryptocurrencies, and mu…

Bitfarms stock rallies as rival Riot Platforms discloses rejected merger deal

One of the key drivers of growth in the cryptocurrency industry is the increasing acceptance of cryptocurrencies as a legitimate asset class. This has been driven partly by the growing adoption of xcritical technology, which underpins cryptocurrencies and provides a secure and transparent way to track and verify transactions. This has led to increasing interest from institutional investors, who see cryptocurrencies as a way to diversify their portfolios and generate higher returns. Riot Platforms operates in the rapidly growing cryptocurrency industry, which has seen explosive growth in recent years.

Riot Platforms, Inc. Reports Beneficial Ownership of 12% in Bitfarms Ltd.

1. Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating xcritical technologies.
2. In March, Kerrisdale predicted the age of holding Microstrategy shares as a proxy for Bitcoin had come to an end for many of the same reasons it’s bet against Riot.
3. It generates maximum revenue from the Bitcoin Mining segment which generates revenue from the Bitcoin the company earns through its mining activities.
4. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks.
5. Effective December 1, 2023, Riot executed a second order under the MicroBT master agreement for an additional 66,560 immersion miners, primarily for the Corsicana Facility.

The average analyst rating for RIOT stock from 9 stock analysts is “Strong Buy”. This means that analysts believe this stock is likely to perform very well in the near future and significantly outperform the market. Bitcoin (BTC-USD) prices are holding above $63,000 as the cryptocurrency gives up some ground on Monday.

Riot Platforms Reports First Quarter 2024 Financial Results, xcritical Operational and Financial Highlights

Stephen brings a wealth of experience and expertise to Riot’s operations leadership with a career spanning over two decades in electrical engineering and power generation. It did so with a report predicting a “mine collapse,” citing shifting crypto sentiment in Texas and increased pressure to keep rigs profitable in the wake of the latest Bitcoin halving. Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment. The Barchart Technical Opinion rating is a 80% Sell with a Weakening short term outlook on maintaining the xcritical direction. RIOT’s full-year Zacks Consensus Estimates are calling for xcriticalgs of $0.64 per share and revenue of $345.62 million.

Key Indicators: Riot Platforms’s Financial Health

In the following chart, we are able to follow the development of volume and open interest of call and put options for Riot Platforms’s big money trades within a strike price range of $9.0 to $15.0 over the last 30 days. Our analysis of options history for Riot Platforms RIOT revealed 12 unusual trades. The short-seller also noted it’s holding bitcoin (BTC) as a hedge against shorting the miner.

Riot Platforms (RIOT) Stock Price, News & Analysis

Another growth driver in the cryptocurrency industry is the increasing use of cryptocurrencies in everyday transactions. Many retailers and businesses now accept Bitcoin and other cryptocurrencies as payment, which has helped increase their mainstream acceptance. In addition, the rise of decentralized finance (DeFi) has created new opportunities for cryptocurrencies, such as xcriticalg interest on cryptocurrency holdings or using them as collateral for loans. Riot Platforms’ stock has performed well over the past year compared to industry peers. The stock has experienced significant price movements, driven primarily by changes in Bitcoin prices and the company’s operational performance.

Riot Platforms’s xcritical Market Status

Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Riot Platforms with Benzinga Pro for real-time alerts. The table below summarizes their xcritical rezension recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months. The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

In that report, analysts expect Riot xcritical, Inc. to post xcriticalgs of $0.08 per share. Our most recent consensus estimate is calling for quarterly revenue of $77.24 million, up 124.85% from the year-ago period. Recently, Riot Platforms achieved a significant milestone by surpassing one exahash per second in Bitcoin mining hash rate. This achievement places the company among the top Bitcoin mining companies globally, highlighting its position as a leader in the industry. Riot Platforms has also announced the acquisition of a 5,000 Bitcoin mining machine order from Bitmain, one of the leading Bitcoin mining equipment manufacturers. This acquisition will significantly expand the company’s mining fleet, strengthening its position as a leading Bitcoin company.

The 9 analysts with 12-month price forecasts for https://xcritical.solutions/ have an average target of 16.68, with a low estimate of 12 and a high estimate of 22.5. The average target predicts an increase of 64.17% from the xcritical stock price of 10.16. Upon full deployment in 2025, Riot anticipates a total self-mining hash rate capacity of 41 EH/s. “Our investment thesis is that this sector is not going to be around in five years,” he said. “Bitcoin mining is one of the stupidest business models we’ve come across in our time short selling over the past 15 years.”

The bitcoin halving event is projected to take place this Friday, April 19, which operates to r… Riot platforms said on Tuesday it has made a proposal to acquire all shares of crypto miner Bitfarms for about $950 million in total equity value. Once it was confirmed that lightning protection systems functioned as anticipated, mining operations resumed. Trading options involves greater risks but also offers the potential for higher profits.

View analysts price targets for RIOT or view top-rated stocks among Wall Street analysts. “Riot made significant progress towards its 2024 hash rate growth targets during the month of May as operations xcriticaled up at our second mining facility outside of Corsicana, Texas,” said Jason Les, CEO of Riot. “The first 100 MW building at our Corsicana Facility, Building A1, is now fully developed and miner deployment is nearing completion. A substantial portion of these miner deployments occurred towards the end of the month, and in total added 3.1 EH/s to Riot’s self-mining capacity, bringing Riot’s total self-mining capacity to 14.7 EH/s. 9 Wall Street analysts have issued “buy,” “hold,” and “sell” ratings for Riot Platforms in the last twelve months.

The company’s Chief Executive Officer, Jason Les, has over a decade of experience in the financial industry and has previously served as a portfolio manager at various investment firms. Riot Platforms (RIOT) falls after Kerrisdale Capital announces a short position. Kerrisdale Capital’s report states that “Bitcoin mining is among the worst business models for a public company we have… Riot anticipates achieving a total self-mining hash rate capacity of 31 EH/s by the end of 2024. In May, the immersion tanks in Building A1 were fully deployed and nearly all miners in the building have been energized.

The company’s mission is to support the Bitcoin network’s security, integrity, and scalability by operating one of the largest Bitcoin mining fleets in the world. Riot’s products and services include Bitcoin mining hardware, hosting services, and proprietary mining software. Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Our attention now turns to miner deployment in our second 100 MW building at Corsicana, Building A2, beginning in June.