Latest news with #RIOT
Yahoo
16 hours ago
- Business
- Yahoo
Was Jim Cramer Right About Preferring Bitcoin Over Riot Platforms (RIOT)?
We recently published a list of . In this article, we are going to take a look at where Riot Platforms, Inc. (NASDAQ:RIOT) stands against other stocks that Jim Cramer discusses. When asked whether Riot Platforms, Inc. (NASDAQ:RIOT) was worth buying amid a dip in Bitcoin miners, Cramer dismissed the idea entirely. He made clear in that older episode that he preferred simpler exposure to crypto: 'If we're going to be in that, we're just going to go buy Bitcoin or go buy Ethereum. Either one is fine with me.' Great call. The bitcoin miner is down -6.42% since while Bitcoin has risen significantly since then. Riot Platforms Inc. (NASDAQ:RIOT) is a Bitcoin mining company that operates large-scale data centers powered by renewable energy sources to mine and secure the Bitcoin blockchain. A computer engineer working in a futuristic office, programming algorithms to mine cryptocurrency. Cramer remains sceptical about Bitcoin miners. Here's what he said about the stock on January 3: 'Okay, well, Riot Platforms, I have to go to my chief scientist Ben Stoto on that. He points out that it's a Bitcoin miner and can you get a better business than mining Bitcoin?' Overall, RIOT ranks 11th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of RIOT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16 hours ago
- Business
- Yahoo
Was Jim Cramer Right About Preferring Bitcoin Over Riot Platforms (RIOT)?
We recently published a list of . In this article, we are going to take a look at where Riot Platforms, Inc. (NASDAQ:RIOT) stands against other stocks that Jim Cramer discusses. When asked whether Riot Platforms, Inc. (NASDAQ:RIOT) was worth buying amid a dip in Bitcoin miners, Cramer dismissed the idea entirely. He made clear in that older episode that he preferred simpler exposure to crypto: 'If we're going to be in that, we're just going to go buy Bitcoin or go buy Ethereum. Either one is fine with me.' Great call. The bitcoin miner is down -6.42% since while Bitcoin has risen significantly since then. Riot Platforms Inc. (NASDAQ:RIOT) is a Bitcoin mining company that operates large-scale data centers powered by renewable energy sources to mine and secure the Bitcoin blockchain. A computer engineer working in a futuristic office, programming algorithms to mine cryptocurrency. Cramer remains sceptical about Bitcoin miners. Here's what he said about the stock on January 3: 'Okay, well, Riot Platforms, I have to go to my chief scientist Ben Stoto on that. He points out that it's a Bitcoin miner and can you get a better business than mining Bitcoin?' Overall, RIOT ranks 11th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of RIOT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Why Riot Platforms, Inc. (RIOT) Soared On Friday
We recently published a list of . In this article, we are going to take a look at where Riot Platforms, Inc. (NASDAQ:RIOT) stands against other Friday's best-performing stocks. Riot Platforms saw its share prices rise by 9.57 percent on Friday to close at $9.85 apiece, mirroring Bitcoin's rally, supported by its improved production of the cryptocurrency last month. As of writing, Bitcoin's prices are up by 2.78 percent at $104,434.90 apiece, as traders cheered news of better-than-expected employment data. Meanwhile, Riot Platforms, Inc. (NASDAQ:RIOT) announced earlier this week that it was able to mine 514 Bitcoins last month, or 11 percent higher than the 463 produced in April, and by 139 percent as compared with the 215 Bitcoins in the same month last year. A computer engineer working in a futuristic office, programming algorithms to mine cryptocurrency. The company said the higher Bitcoin production was supported by an increased hash rate of 35.4 EH/s. Bitcoin mining aside, Riot Platforms, Inc. (NASDAQ:RIOT) said it recently acquired 355 acres of land near its Corsicana site, intended for the development of data centers to serve high-performance compute, which typically require larger footprints than bitcoin mining to utilize the same power capacity. 'We will continue to look to strategically add additional land parcels to ensure that our Corsicana site is ideally suited to support designs for data centers that serve the needs of hyperscale and enterprise tenants,' said Riot Platforms, Inc. (NASDAQ:RIOT) CEO Jason Les. Overall, RIOT ranks 8th on our list of Friday's best-performing stocks. While we acknowledge the potential of RIOT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
3 days ago
- Business
- Business Insider
Bitcoin and AI Themes Ignite Riot Platforms Stock (RIOT)
Bitcoin is back in the spotlight again, reaching an all-time high of over $109,000 over the past week. For investors seeking ways to capitalize on this trend beyond investing in the cryptocurrency itself, other investment opportunities along the value chain, such as firms that provide specialized infrastructure, including computers that operate continuously to secure the network and mine new coins, may present a compelling option. Confident Investing Starts Here: On such stock is Riot Platforms (RIOT), operating some of the most powerful mining facilities in the U.S., and the company just delivered some impressive numbers that caught Wall Street's attention, generating $161.4 million in revenue during the first quarter of 2025, more than double what they earned in the same period last year. I am optimistic about the overall growth of blockchain technology and particularly bullish on RIOT stock. The company presents a compelling investment opportunity at the crossroads of infrastructure and emerging technology. With ongoing operational enhancements, strategic acquisitions, and diversification initiatives, Riot is well-positioned to capitalize on the expanding demand for cryptocurrency. Building a Bigger and Better Mining Operation Riot's recent push to expand and optimize its mining operations appears to be paying off rapidly. Their hashrate—the measure of computational power driving Bitcoin mining, similar to horsepower in a car—grew an impressive 142% year-over-year, reaching 35.4 exahashes per second. RIOT has also made significant efficiency improvements, reporting a 24% increase in energy efficiency. This is particularly critical in a sector where electricity costs significantly impact profitability. Riot now operates at 21.2 joules per terahash, a substantial reduction from previous levels. These gains in efficiency could provide a meaningful competitive edge over time. Bitcoin's mining rewards halve roughly every four years to control inflation and cap the total supply at 21 million coins. The most recent halving, in April 2024, cut the reward from 6.25 to 3.125 BTC per block. This post-halving environment has made mining more challenging across the industry. Network difficulty has risen by 41%, meaning miners must exert significantly more computational power to earn the same rewards. While this creates pressure for all participants, companies with highly efficient operations, like Riot, are best positioned to continue growing despite these challenges. Growth Through Strategic Acquisitions and AI Riot recently announced the acquisition of Rhodium's mining operations, and looks to make Rhodium's operations profitable while freeing up 125 megawatts of power capacity for Riot's own mining activities. The numbers from May 2025 show this strategy is paying off. Riot produced 514 Bitcoin for the month, more than doubling their output year-over-year. The increase in mining output, coupled with the growth in Bitcoin's price, compounds the company's revenue potential. Another intriguing aspect of Riot's unfolding story is its move to expand beyond mining. The company has recently acquired 355 acres near its Texas facility, with plans to build large-scale data centers targeting the artificial intelligence and high-performance computing (HPC) markets. The company is planning to bring online 1 gigawatt of power capacity by early 2026. This strategy makes sense for Riot (and other miners, many of which are pursuing similar opportunities), considering it has already incurred sunk costs in two key drivers of data center success — reliable power infrastructure and operational expertise in managing large-scale computing facilities. Riot Platforms is rated a Strong Buy overall, based on the most recent recommendations of ten analysts. , which represents a potential upside of 70% from current levels. Analysts following Riot remain bullish on its prospects. For example, Roth MKM has recently reiterated a Buy rating on the stock with a price target of $16, noting the firm's increase of substantial capacity of 600MW at its Texas facility, along with a move to hire Jonathan Gibbs as Chief Data Center Officer, has bolstered its position in the high-performance computing (HPC) market. Needham also maintains a Buy rating on the stock. However, analyst John Todaro has adjusted Riot Platforms' price target from $13.50 to $12 in response to a miss on adjusted EBITDA, attributed to higher-than-anticipated SG&A and other costs of goods sold during the first quarter. RIOT in Review Riot provides leveraged exposure to Bitcoin's upside potential, with recent record revenue growth and notable efficiency improvements making a strong case. Their expansion into AI and high-performance computing markets marks a strategic move into a promising adjacent sector, which could also serve as a useful hedge against Bitcoin's volatility. That said, investing in RIOT carries significant risks. The company's fortunes remain closely tied to Bitcoin's notoriously volatile price fluctuations. Additionally, mining profitability hinges on a delicate balance between Bitcoin prices, network difficulty, and energy costs—factors largely beyond management's control. Overall, I remain bullish on Riot as a high-risk, high-reward play for investors looking to gain measured exposure to crypto infrastructure.
Yahoo
7 days ago
- Business
- Yahoo
Riot Platforms Boosts Bitcoin Output to 514 BTC as Hashrate and Expansion Plans Ramp Higher
Bitcoin miner Riot Platforms (RIOT) reported on Tuesday strong production growth in May, mining 514 BTC — an 11% increase from April and a 139% jump compared to the year-ago level. The company sold nearly all the new bitcoin, generating $51.3 million in proceeds at an average price of $102,591 per token. Riot's hashrate also climbed, with total deployed computing power reaching 35.4 exahashes per second, a 5% increase over April and 142% higher than the previous year. Operating efficiency improved as well, with the fleet running at 21.2 joules per terahash — down from 28 J/TH last May. Beyond mining, Riot is positioning itself for growth in the AI and high-performance computing (HPC) sectors. In May, the company closed the acquisition of 355 acres of land near its Corsicana facility in Texas. CEO Jason Les said the site will support the development of data centers tailored for enterprise and hyperscale clients, noting that these centers require significantly larger footprints than traditional mining operations. To lead this effort, Riot hired industry veteran Jonathan Gibbs as Chief Data Center Officer. The move signals Riot's ambition to diversify beyond bitcoin and into the fast-growing market for AI-ready infrastructure. RIOT shares are higher by 3.4% in Tuesday trading. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
