What's Going On With Riot Platforms Shares Wednesday?
Portfolio Pulse from Dylan Berman
Riot Platforms, Inc. (NASDAQ:RIOT) announced the acquisition of one million common shares of Bitfarms, increasing its ownership to 18.90%. Additionally, Riot reported a significant increase in Bitcoin production and hash rate for July 2024, and announced the acquisition of Block Mining, which will boost its self-mining capacity. Despite these positive developments, Riot's stock is down 2.68% to $7.63.
August 14, 2024 | 5:03 pm
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Riot Platforms announced the acquisition of one million common shares of Bitfarms, increasing its ownership to 18.90%. The company also reported a significant increase in Bitcoin production and hash rate for July 2024, and announced the acquisition of Block Mining, which will boost its self-mining capacity. Despite these positive developments, Riot's stock is down 2.68% to $7.63.
The acquisition of additional Bitfarms shares and the increase in Bitcoin production and hash rate are positive developments for Riot Platforms. The acquisition of Block Mining further strengthens its mining capacity. However, the stock is currently down, possibly due to broader market conditions or profit-taking.
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