Latest news with #RiotPlatforms
Yahoo
2 days ago
- Business
- Yahoo
Jim Cramer on Riot Platforms: 'That's Just Too Dicey for Me'
Riot Platforms, Inc. (NASDAQ:RIOT) is one of the stocks highlighted by Jim Cramer in the lightning round. During the lightning round, a caller inquired about the stock, and Cramer stated: 'No, see, that's, again, I mean that's just too dicey for me. I know in the end, I don't look like, I may look like a radical, but I'm not when it comes to money, except for when it comes to orientation and not just doing S&P funds, but also doing individual stocks.' Photo by bitcoin executium on Unsplash Riot Platforms, Inc. (NASDAQ:RIOT) is a Bitcoin mining company that also provides infrastructure, power distribution equipment, and custom electrical solutions for large-scale applications. When a caller inquired about the stock in a July episode, Cramer responded: 'You know, I have been a believer. I actually had… a very big debate this weekend about whether you should just own Bitcoin, or you should own Riot Platforms, or own Strategy. And I still come back to say own Bitcoin. I don't need leverage. I don't need trickiness. It's like I prefer gold to the gold miners. It really is the same thing. Own Bitcoin.' While we acknowledge the potential of RIOT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
2 days ago
- Business
- Yahoo
Jim Cramer on Riot Platforms: 'That's Just Too Dicey for Me'
Riot Platforms, Inc. (NASDAQ:RIOT) is one of the stocks highlighted by Jim Cramer in the lightning round. During the lightning round, a caller inquired about the stock, and Cramer stated: 'No, see, that's, again, I mean that's just too dicey for me. I know in the end, I don't look like, I may look like a radical, but I'm not when it comes to money, except for when it comes to orientation and not just doing S&P funds, but also doing individual stocks.' Photo by bitcoin executium on Unsplash Riot Platforms, Inc. (NASDAQ:RIOT) is a Bitcoin mining company that also provides infrastructure, power distribution equipment, and custom electrical solutions for large-scale applications. When a caller inquired about the stock in a July episode, Cramer responded: 'You know, I have been a believer. I actually had… a very big debate this weekend about whether you should just own Bitcoin, or you should own Riot Platforms, or own Strategy. And I still come back to say own Bitcoin. I don't need leverage. I don't need trickiness. It's like I prefer gold to the gold miners. It really is the same thing. Own Bitcoin.' While we acknowledge the potential of RIOT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. 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
5 days ago
- Business
- Yahoo
JonesResearch upgrades Riot to Buy, sees 55% upside on HPC execution
JonesResearch upgraded Riot Platforms (RIOT) to a Buy rating, boosting its price target to $18 from a prior Hold following a 13% pullback after Q2 results and insights gathered during a recent San Francisco non-deal roadshow. At the August 6 closing price of $11.66, the new target implies roughly 55% upside. JonesResearch cited strengthened confidence in Riot's ability to secure a HPC lease at its Corsicana site, where an additional 600 MW of power capacity benefits from pre-SB6 grandfathered status under evolving Texas regulations. While some HPC premium—reflecting market expectations of an initial ~150 MW deal—is already priced in, JonesResearch argues that even a smaller 100 MW agreement would act as a catalyst for the broader 600 MW opportunity. In its sum-of-the-parts valuation, JonesResearch assigns the Corsicana 600 MW build-to-suit lease an equity value of $4.11 billion–$6.71 billion (equivalent to $11.13–$18.16 per share), assuming a 12-year lease with 75% EBITDA margins and 15x–20x EV/EBITDA multiples. The mining business is valued at a 6.0x EV/EBITDA multiple on a blended 2025–26 EBITDA forecast of $161 million, supporting the overall $18 price target. Operational improvements also underpinned the upgrade: Riot's average mining uptime rose to 86.4% from October 2024 through July 2025, versus 67.9% from January 2022 to September 2024, and management expects further SG&A leverage and lower litigation expenses in H2 2025. With the Corsicana basis of design slated for completion by Q3 2025 and a lease possible by year-end or early 2026, JonesResearch views the risk/reward as attractive entering the next phase of execution. Jones' Buy rating comes about a week after JP Morgan downgraded hybrid miners, including IREN and RIOT, arguing that the valuations were 'stretched' given long sales cycles and uncertain deal time of publication, RIOT is up 1.7% from yesterday's close. Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
Trump announces 100% tariffs on chips, mining stocks tumble
Trump announces 100% tariffs on chips, mining stocks tumble originally appeared on TheStreet. President Donald Trump announced on Aug. 6 that he will impose tariffs as high as 100% on imports of chips and semiconductors to the U.S. Only those manufacturing these products in the U.S. can escape this charge, he added. Trump told reporters in the Oval Office that the new rate would apply to all chip and semiconductor imports except those from companies that have committed to manufacturing in the U.S. As reported earlier, the Bitcoin mining industry has taken a hit due to Trump's tariffs on chips. Mining is the process of using high-tech hardware to validate and secure transactions on a blockchain network that forms the infrastructure of the crypto industry. While the U.S. is the world leader among crypto mining countries, it is Asian countries such as China, Indonesia, Malaysia, and Thailand that are the key manufacturers of mining rig equipment on which even the miners based in the U.S. are announcement immediately sent shockwaves through the stocks of nearly all crypto mining companies. MARA Holdings (Nasdaq: MARA), a prominent Bitcoin miner based in Florida, fell 0.13% in after hours to $15.87 at the time of writing. Similarly, the Colorado-headquartered Riot Platforms (Nasdaq: RIOT) dropped 0.69% to $11.58. Singapore-headquartered miner Bitdeer Technologies (Nasdaq: BTDR) fell 0.62% to $12.89, and the Henderson, Nevada-headquartered CleanSpark, Inc. (Nasdaq: CLSK) fell 0.18% to $10.98. HIVE Digital Technologies (Nasdaq: HIVE) also fell 0.94% to $2.10. Hut 8 (Nasdaq: HUT) fell 0.19% to $20.65. The total crypto market cap stood at $3.76 trillion at the time of writing. Trump announces 100% tariffs on chips, mining stocks tumble first appeared on TheStreet on Aug 6, 2025 This story was originally reported by TheStreet on Aug 6, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
Riot Q2 2025 earnings call highlights
Riot Platforms (RIOT) posted a surprise return to profitability in Q2, driven by strong Bitcoin mark-to-market gains and the company's expanding data center roadmap. The Austin-based miner reported net income of $219.5 million, or $0.65 per share, versus a loss of $296.4 million, or $0.90 per share, in Q1 2025. Revenue of $153.0 million came in slightly above Street estimates, while non-GAAP adjusted EBITDA swung to a $495.3 million profit from a $176.3 million loss in the prior quarter. Key operating and financial metrics (quarter-over-quarter change based on Q1 and Q2 SEC filings): Total hashrate: 33.7 EH/s → 35.4 EH/s (+5%) Bitcoin mined: 1,530 BTC → 1,426 BTC (-6.8%) MW under management: 1,165 MW → 1,165 MW (no change) Revenue: $161.4 million → $153.0 million (-5.2%) EBITDA: -$219 million → $305.7 million (+$520 million) SG&A: $71.4 million → $75.9 million (+6.3%) SG&A/Revenue: 44.2% → 49.6% (+5.4%) Net income: –$296.4 million → $219.5 million (+$516 million) Management used the quarter's momentum to underscore Riot's strategic shift toward purpose-built data centers. The company announced the hiring of Jonathan Gibbs as chief data center officer, secured a $200 million bitcoin-collateralized facility with Coinbase, and continued land acquisitions around its Corsicana, Texas campus. CEO Jason Les framed Riot's actions as the culmination of multi-year investments in land, power procurement, mining infrastructure and now data-center development. He emphasized that Riot is 'in the business of monetizing megawatts,' leveraging its Rockdale and Corsicana sites both to mine Bitcoin and to host high-performance computing tenants under build-to-suit agreements. Gibbs' appointment capped a seven-month recruiting push that also saw Riot expand its basis of design for a 600 MW facility in Corsicana: the company has acquired a total of 858 acres nearby and is completing substation and waterline upgrades to support liquid-cooled, AI-driven workloads. Les noted ongoing discussions with hyperscale, enterprise and neo-cloud customers, stressing the premium value of ready-served power in the Dallas-Austin corridor. On the mining front, Riot sold its monthly coin production to fund operations and growth, bolstering its balance sheet—which ended the quarter with over 19,000 BTC and $330 million in cash—while drawing on a new $200 million financing line to minimize equity dilution. Direct mining costs remained competitive at roughly $48,992 per BTC. Looking ahead, Riot forecasted 40 EH/s by Q4 2025 and provided initial guidance of 45 EH/s for Q1 2026. At time of publication, RIOT is down 8.35% during pre-market hours. 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
