Latest news with #RiotPlatformsInc
Yahoo
24-04-2025
- Business
- Yahoo
Why Riot Platforms Inc. (RIOT) Went Up On Tuesday
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 Tuesday's best-performing stocks. The stock market bounced back on Tuesday, erasing losses in the previous day, as investors snapped up shares on news that the US-China trade tensions could possibly subside. The Dow Jones rallied by 2.66 percent, the S&P 500 rose by 2.51 percent, and the Nasdaq surged by 2.71 percent. On Tuesday, news reports said that US Treasury Secretary Scott Bessent believed there would be a de-escalation between the US and China, describing future negotiations as a slog that has not started yet. The news buoyed trading in several financial markets, including cryptocurrency, with Bitcoin jumping 5 percent to trade above the $91,000 level. The rally spilled over into 10 companies, predominantly Bitcoin miners. In this article, we have listed the 10 top-performing firms on Tuesday and detailed the reasons behind their gains. To come up with the list, we considered only the stocks with more than $1 billion in market capitalization and $5 million in trading volume. A computer engineer working in a futuristic office, programming algorithms to mine cryptocurrency. Riot Platforms saw its share prices jump by 13.20 percent on Tuesday to finish at $7.12 apiece as investors gobbled up shares in the company following the jump in Bitcoin prices. RIOT traded higher alongside its Bitcoin-mining peers after the cryptocurrency asset retested the $91,000 level amid stock market volatility and weakness in the US dollar. In a statement earlier this month, the company said it would announce the results of its first quarter earnings performance after market hours on May 1, 2025. Last year, RIOT achieved a net income of $109.4 million and a 34-percent increase in revenues at $376.7 million from $280.7 million in the same period a year earlier. Total Bitcoin mining revenues stood at $321 million for the year, compared with only $189 million in 2023, primarily driven by higher average Bitcoin prices and an increase in operational hash rate, partially offset by an increase in network difficulty and the block subsidy 'halving' event. Overall, RIOT ranks 6th on our list of Tuesday's best-performing stocks. While we acknowledge the potential of RIOT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than RIOT but that trades at less than 5 times its earnings, 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.
Bloomberg
23-04-2025
- Business
- Bloomberg
Bitcoin Miner Riot Platforms Gets $100 Million Credit Facility From Coinbase
Bitcoin miner Riot Platforms Inc. said it has entered into a $100 million credit facility with a subsidiary of Coinbase Global Inc., the largest US-based crypto exchange. The facility, which is backed by a portion of Riot's Bitcoin holdings, will provide a multiple drawdown term loan available to the miner, the company said in a statement on Wednesday.
Yahoo
31-03-2025
- Business
- Yahoo
Riot Platforms (RIOT) Expands into High-Performance Computing Amid AI Surge!
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 top AI ratings and news updates on Wall Street's radar. Despite AI's potential to transform our lives for the better, security threats associated with the technology continue to make headlines. North Korea's Kim Jong Un oversaw tests of newly developed AI-powered suicide drones and called for increased production. Kim Jong Un had reportedly said that unmanned control and AI capability should be prioritized in modern arms development. Elsewhere, Alabama Governor Kay Ivey banned Chinese AI tools over data security concerns. 'When it comes to the threat posed by the Chinese government, Alabama takes no chances. Our citizens' information must be protected in the strongest possible ways, which is why we are not only putting a ban on these two Chinese AI companies within our state government but also safeguarding our state's IT infrastructure from any foreign country of concern,' she said. Bill Gates also recently reiterated concerns about AI replacing most jobs. He believes the rate of advancements in AI could mean that the technology could replace many professions, including doctors and teachers. 'It's very profound and even a little bit scary — because it's happening very quickly, and there is no upper bound,' Gates said in a recent interview. However, he noted that certain types of jobs will likely never be replaced by AI. He said last year that he remains optimistic about the overall benefits of AI, like 'breakthrough treatments for deadly diseases, innovative solutions for climate change, and high-quality education for everyone.' We selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of the number of hedge funds that hold stakes in them, as of Q4 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A computer engineer working in a futuristic office, programming algorithms to mine cryptocurrency. Riot Platforms Inc. (NASDAQ:RIOT) is a Bitcoin mining and digital infrastructure firm that manages Bitcoin mining data centers and electrical switchgear fabrication operations across the US. On March 21st, Roth MKM highlighted that although Bitcoin mining remains Riot Platforms Inc.'s (NASDAQ:RIOT) core revenue driver, the company sees major upside in high-performance computing on the surging demand for AI training and inference. The brokerage highlighted that the company is actively expanding into the HPC segment to capitalize on higher-value opportunities beyond crypto mining operations. Analysts added that Riot Platforms Inc. (NASDAQ:RIOT) views Corsicana as a strategic site for a 600MW HPC build, expected to be operational in multiple phases in 2026 and beyond. Roth MKM maintained a 'Buy' rating on the stock with a 12-month target price of $20 per share. Overall, RIOT ranks 7th on our list of top AI ratings and news updates on Wall Street's radar. While we acknowledge the potential of RIOT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RIOT but that trades at less than 5 times its earnings, check out our report about the . 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. Sign in to access your portfolio
Yahoo
20-02-2025
- Business
- Yahoo
Why Riot Platforms Inc (RIOT) Is Skyrocketing So Far In 2025?
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 data center stocks that are skyrocketing so far in 2025. There have been murmurs of a data center and cloud computing slowdown for the past two years, but none of that has materialized and the data center industry has instead accelerated as companies double down on AI. Even after DeepSeek, investors are pretty bullish on data center stocks as AI companies are learning from DeepSeek's efficiency to create even more powerful AI models. The data center sector is projected to grow at a 9.29% CAGR from 2025 to 2033, potentially reaching $494.5 billion by 2033. As such, there are plenty of opportunities if you dig deeper into the market and many of them have just started to rally this year. It's a good idea to look into the ones spearheading the gains. For this article, I screened the top-performing data center stocks year-to-date. Stocks that I have covered recently will be excluded from this list. I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds invest in? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points. (). A computer engineer working in a futuristic office, programming algorithms to mine cryptocurrency. Number of Hedge Fund Holders In Q4 2024: 37 Riot Platforms Inc (NASDAQ:RIOT) is a Bitcoin mining company that operates data centers too. The stock is up significantly so far in 2025 mostly due to Bitcoin rising significantly and its pivot to AI. The company announced new board members who have expertise in AI and data centers and engaged financial advisors to possibly convert its 600 MW Corsicana facility for AI and HPC. Moreover, Riot reported mining 527 Bitcoins in January 2025, which increased 2% from the previous month and the total hash rate increased 171% year-over-year to 33.5 EH/s. Riot has scheduled its fourth quarter and year-end 2024 earnings conference call for February 24, 2025. The consensus price target of $17.55 implies 46.68% upside. RIOT stock is up 15.72% year-to-date. Overall, RIOT ranks 13th on our list of data center stocks that are skyrocketing so far in 2025. 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 doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RIOT but that trades at less than 5 times its earnings, check out our report about the. READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap Disclosure: None. This article is originally published at Insider Monkey.
