Streetbeat News

RIOT

Riot Blockchain, Inc.

https://www.riotblockchain.com

Industry

Software - Application

Riot Blockchain, Inc., together with its subsidiaries, focuses on bitcoin mining operations in North America. It operates through Bitcoin Mining, Data Center Hosting, and Electrical Products and Engineering segments. As of December 31, 2021, it operated approximately 30,907 miners. Riot Blockchain, Inc. was incorporated in 2000 and is headquartered in Castle Rock, Colorado.

Open

7.54

Mkt cap

2.7B

Volume

19M

High

7.90

P/E Ratio

23.00

52-wk high

15.87

Low

7.50

Div yield

N/A

52-wk low

6.36

Bitcoin miners faced challenges in Q2 2024 due to the Bitcoin halving event, which reduced daily coin yields. Despite this, Marathon Digital and CleanSpark stood out for their strategic moves and cost efficiencies. Marathon led in bitcoin mining and cost-cutting, while CleanSpark expanded aggressively. Riot Platforms and Iris Energy also made significant capital moves.

Portfolio Pulse from Surbhi Jain

August 23, 2024 | 1:43 pm

JP Morgan analyst Reginald Smith maintains an Overweight rating on Riot Platforms but lowers the price target from $12 to $9.5.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 1:22 pm

Shares of crypto-linked stocks are trading higher amid a rise in the price of Bitcoin.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 7:25 pm

Bernstein analysts report a shifting competitive landscape for Bitcoin miners, highlighting Marathon Digital, Core Scientific, and CleanSpark as top producers. Riot Platforms lags in production but is improving efficiency. Miners are diversifying into AI and data centers, with Core Scientific and Iris Energy making significant moves. Bernstein expects mining margins to improve in Q4 due to potential Bitcoin price rises from institutional ETF flows.

Portfolio Pulse from Ivan Crnogatić

August 16, 2024 | 2:27 pm

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.

Portfolio Pulse from Dylan Berman

August 14, 2024 | 5:03 pm

Riot Platforms has increased its beneficial ownership in Bitfarms to 18.9% by acquiring an additional 1 million common shares. This acquisition raises Riot's stake from 18.68% to 18.90% of Bitfarms' issued and outstanding common shares.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 9:58 pm

Riot Platforms (NASDAQ:RIOT) has significantly outperformed the market over the past 5 years, delivering an average annual return of 33.04%. A $100 investment in RIOT 5 years ago would now be worth $423.62. The article highlights the impact of compounded returns on investment growth.

Portfolio Pulse from Benzinga Insights

August 13, 2024 | 7:00 pm

Marathon Digital Holdings Inc. (NASDAQ:MARA) announced that all Bitcoin blocks mined by its MARA Pool will be labeled 'Made in USA,' following former President Donald Trump's pledge to make the US a global Bitcoin mining hub. This move positions Marathon Digital as the only large-scale miner capable of ensuring all its blocks are mined in the USA. The announcement comes amid increasing global competition in Bitcoin mining, with Russia recently legalizing cryptocurrency mining.

Portfolio Pulse from Aniket Verma

August 13, 2024 | 12:01 pm

Shares of crypto-linked stocks are trading higher amid a rebound in Bitcoin.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 10:27 am

Shares of crypto-linked stocks are trading lower, possibly due to weakness in Bitcoin.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 6:34 pm

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