Latest news with #RiotPlatforms
Yahoo
17 hours 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
Coin Geek
2 days ago
- Business
- Coin Geek
Miners in tight spot as post-halving takes dent on revenue
Getting your Trinity Audio player ready... Block reward mining profitability is under severe pressure in 2025, driven by the 2024 Bitcoin halving and escalating energy costs. The halving slashed block rewards to 3.125 BTC, while global mining difficulty reached a record 123T, pushing the hash price to a low of $0.049 per terahash per second. For many miners, operational costs now exceed revenue, with some United States operations facing costs of up to $137,000 per Bitcoin—far above market prices of $100,00–$111,000. Energy costs, which can account for 80% of operational expenses, are the primary challenge. In regions like Oman, subsidized electricity rates of $0.035 per kilowatt-hour enable profitability, but miners in Europe or parts of North America face rates as high as $0.20 per kWh, rendering operations unsustainable without significant efficiency gains. Upgrading to advanced rigs like MicroBT's WhatsMiner M66S+ is a common strategy, but the high upfront cost—often exceeding $10,000 per unit—limits accessibility for smaller miners. Financial strain has forced drastic measures. Firms like Riot Platforms (NASDAQ: RIOT) sold $38.8M in BTC in December 2024 to cover expenses, reflecting a broader trend of liquidating reserves to stay afloat. Smaller miners, unable to absorb losses, are exiting the industry or being acquired by larger players like Marathon Digital (NASDAQ: MARA), which are scaling hash rates to offset reduced rewards through economies of scale. To mitigate losses, miners are diversifying revenue streams. Some are leasing excess computing power for artificial intelligence (AI) or cloud computing, leveraging existing infrastructure to generate stable income. Others are investing in renewable energy sources to lower costs, though scaling such solutions requires significant time and capital. The profitability crisis underscores the need for relentless innovation, as miners must balance immediate financial pressures with long-term strategies to remain viable in a hyper-competitive landscape. Watch | Bitcoin mining in 2025: Is it still worth it? title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen=""> Bitcoin Halving Bitcoin Price Block Reward Mining
Yahoo
5 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
Yahoo
30-05-2025
- Business
- Yahoo
Why Riot Platforms, Inc. (RIOT) Went Down On Wednesday
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 worst-performing stocks. Riot Platforms dropped its share prices by 8.32 percent on Wednesday to close at $8.38 apiece as investor sentiment was dampened by the decline in Bitcoin prices. Riot Platforms, Inc.'s (NASDAQ:RIOT) stock declined alongside its peers, CleanSpark Inc. and MARA Holdings Inc., as traders booked profits following Bitcoin's record high last week. As of 6:07 PM EST, the price of Bitcoin was down by 1.43 percent at the $107,000 level. A computer engineer working in a futuristic office, programming algorithms to mine cryptocurrency. Earlier this month, Riot Platforms, Inc. (NASDAQ:RIOT) said it was able to mine 463 Bitcoins, representing a 23-percent year-on-year growth, but lower by 13 percent month-on-month. During the period, it was also able to sell 475 Bitcoins, bringing its total holdings to 19,211 as of end-April. 'During the month … we made the strategic decision to sell our monthly production of bitcoin to fund ongoing growth and operations. We continuously evaluate the best funding sources, considering a multitude of factors and prioritizing a strong balance sheet,' said Riot Platforms, Inc. (NASDAQ:RIOT) CEO Jason Les. Overall, RIOT ranks 9th on our list of worst-performing stocks. While we acknowledge the potential of RIOT, 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 AI stock that is more promising than RIOT and that has 10,000x upside potential, check out our report about this cheapest 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
29-05-2025
- Business
- Yahoo
Why Riot Platforms, Inc. (RIOT) Went Down On Wednesday
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 worst-performing stocks. Riot Platforms dropped its share prices by 8.32 percent on Wednesday to close at $8.38 apiece as investor sentiment was dampened by the decline in Bitcoin prices. Riot Platforms, Inc.'s (NASDAQ:RIOT) stock declined alongside its peers, CleanSpark Inc. and MARA Holdings Inc., as traders booked profits following Bitcoin's record high last week. As of 6:07 PM EST, the price of Bitcoin was down by 1.43 percent at the $107,000 level. A computer engineer working in a futuristic office, programming algorithms to mine cryptocurrency. Earlier this month, Riot Platforms, Inc. (NASDAQ:RIOT) said it was able to mine 463 Bitcoins, representing a 23-percent year-on-year growth, but lower by 13 percent month-on-month. During the period, it was also able to sell 475 Bitcoins, bringing its total holdings to 19,211 as of end-April. 'During the month … we made the strategic decision to sell our monthly production of bitcoin to fund ongoing growth and operations. We continuously evaluate the best funding sources, considering a multitude of factors and prioritizing a strong balance sheet,' said Riot Platforms, Inc. (NASDAQ:RIOT) CEO Jason Les. Overall, RIOT ranks 9th on our list of worst-performing stocks. While we acknowledge the potential of RIOT, 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 AI stock that is more promising than RIOT and that has 10,000x upside potential, check out our report about this cheapest 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
