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

12.33

Mkt cap

4.3B

Volume

29M

High

12.84

P/E Ratio

85.40

52-wk high

18.75

Low

12.01

Div yield

N/A

52-wk low

6.36

Bitcoin and Ethereum prices plummeted amid escalating Middle East tensions, impacting major crypto-related stocks like Marathon Digital, CleanSpark, Core Scientific, Riot Platforms, and Coinbase.

Portfolio Pulse from Murtuza Merchant

October 01, 2024 | 5:50 pm

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 4:28 pm

Bernstein has raised its price target for Riot Platforms (NASDAQ:RIOT) to $22, maintaining an 'Outperform' rating. The optimistic forecast is based on Riot's strategic focus on Bitcoin mining, its extensive power capacity, and its positioning in the cryptocurrency market. Riot is building the world's largest Bitcoin mining data center in Texas, aiming for a 1-gigawatt power capacity. By 2025, Riot is expected to control 8% of the Bitcoin network. Bernstein projects Riot's revenue to grow at a 149.6% CAGR from 2023 to 2025, with an EBITDA of approximately $1.1 billion in 2025.

Portfolio Pulse from Murtuza Merchant

October 01, 2024 | 3:18 pm

JPMorgan analyst Reginald L. Smith highlights discrepancies in valuations of Bitcoin mining stocks. Marathon Digital (MARA) is deemed overpriced due to its long payback period, while Riot Platforms (RIOT) is considered undervalued, with its assets worth more than its enterprise value.

Portfolio Pulse from Surbhi Jain

October 01, 2024 | 12:50 pm

Bitcoin mining stocks Marathon Digital, Riot Platforms, and CleanSpark are declining as Bitcoin's price drops by 2.5%. Despite recent gains, Bitcoin miners are expected to report September metrics this week. Marathon, Riot, and CleanSpark's stocks are down 3.76%, 3.44%, and 4.74% respectively.

Portfolio Pulse from Adam Eckert

September 30, 2024 | 1:15 pm

Crypto-linked stocks are experiencing a decline in share prices due to a pullback in Bitcoin's value.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 11:51 am

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 3:49 pm

Bitcoin mining stocks, including Cipher Mining, CleanSpark, Marathon Digital Holdings, and Riot Platforms, are experiencing gains due to positive analyst coverage and a rise in the cryptocurrency market. Cipher Mining's stock surged after announcing a new data center and receiving Outperform ratings from analysts.

Portfolio Pulse from Adam Eckert

September 25, 2024 | 6:03 pm

Macquarie analyst Paul Golding has initiated coverage on Riot Platforms (NASDAQ:RIOT) with an Outperform rating and set a price target of $15.

Portfolio Pulse from Benzinga Newsdesk

September 24, 2024 | 9:27 pm

Bitcoin's recent rally to $64,000 is attributed to rate cuts, bipartisan crypto support, Bitcoin ETF momentum, miner stability, and reduced selling pressure. This has positive implications for Bitcoin mining stocks and crypto-exposed companies like MicroStrategy and Robinhood.

Portfolio Pulse from Khyathi Dalal

September 23, 2024 | 6:49 pm

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