Latest news with #RiotPlatforms
Yahoo
5 days ago
- Business
- Yahoo
Bitcoin Mining Costs Soar as Hashrate Hits Records: TheMinerMag
Bitcoin BTC miners are facing mounting pressure as the network's hashrate and difficulty continue to climb, tightening margins even as bitcoin's price holds steady, according to TheMinerMag's monthly report. The network's mining difficulty hit a record 126.98 trillion, propelled by a 14-day average hashrate of 913.54 exahashes per second (EH/s). Transaction fees in June fell below 1% of block rewards, and hashprice dropped to $52 per PH/s before rebounding slightly. Escalating competition and energy costs are expected to drive production expenses above $70,000 per BTC, up from $64,000 in the first quarter of the year, the report said. To remain competitive, public miners like MARA Holdings (MARA), CleanSpark (CLSK), Riot Platforms (RIOT), and IREN (IREN) are accelerating buildouts. MARA grew its hashrate by 30% in May, while HIVE (HIVE) added 32% after energizing a new facility in Paraguay. Cipher Mining (CIFR) is targeting a 70% boost by expanding its Texas operation. Top-tier ASICs now cost between $10 and $30 per terahash, the report said, with operational payback periods stretching as long as two years. That's assuming a $0.06/kWh electricity rate — already out of reach for some. Terawulf, for instance, paid $0.081/kWh in the first quarter, pushing its fleet hashcost up by over 25%. Meanwhile, mining equities are decoupling from bitcoin's price performance. IREN, Core Scientific (CORZ), and Bit Digital (BTBD) were all in the green over the last month, while Canaan (CAN) and Bitfarms (BITF) were both down double digits during the same time period. The shift suggests that investors are paying closer attention to business models rather than just Bitcoin's price action. 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
U.S.-Listed Bitcoin Miners' Share of Network Hashrate Hit Record High in June: JPMorgan
The total hashrate of the 13 U.S.-listed bitcoin BTC miners tracked by JPMorgan (JPM) now accounts for around 31.5% of the global network, the highest level on record, the bank said in a research report on Monday. These miners added 11 exahashes per second (EH/s) of capacity since April, led by CleanSpark (CLSK), Hive Technologies (HIVE) and Riot Platforms (RIOT), the report said. The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty. The miners' aggregate hashrate has risen 99% year-on-year versus a 55% y/y increase in the network hashrate. The network hashrate fell about 10 EH/s to an average of 890 EH/s in the first two weeks of June, a development the bank said was "somewhat surprising." Still, it remains up over 50% year-on-year. The hash price, a measure of daily mining profitability, dropped 2% from the end of May, the report noted. The total market cap of the 13 companies rose 10%, or $2.4 billion, in the first two weeks of the month, the bank said. Riot outperformed the group with a 20% gain, while Bitfarms (BITFU) underperformed with a 9% decline, the report added. 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
14-06-2025
- Business
- Yahoo
Bitcoin Bounces to $106K After Iran-Israel Jitters, but Analysts Warn of Deeper Pullback
The crypto market is slightly bouncing back from early Friday's jitters on escalating conflict between Israel and Iran. After slumping to the $102,600 mark, bitcoin BTC rebounded to around $106,000 before fading lower in the U.S. afternoon hours with reports about a fresh wave of airstrikes targeting Iran. The top cryptocurrency was down 1.6% in the last 24 hours, changing hands at $105,200 and still less than 6% shy of its all-time high price. Meanwhile, the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding memecoins, stablecoins and exchange coins — has lost 4.4% in the same period of time. Tokens such as ether ETH, avalanche AVAX and toncoin TON were the hardest hit, slumping between 6% and 8%. Crypto stocks, however, aren't doing too hot. Most equities are in the red, especially bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT), down 5% and 4% respectively. A notable exception is stablecoin issuer Circle (CIRCL), which is still benefiting from the windfall of its recent IPO; the stock is up 13% today, with news of retail giants Amazon and Walmart reportedly exploring stablecoins adding to the momentum. Traditional markets don't seem overwhelmingly concerned by the war. While gold is up 1.3%, potentially gearing up for new all-time highs, the S&P 500 and Nasdaq are only down 0.4% each. "Nice bounce thus far and lack of follow-through lower," well-followed crypto trader Skew said in a Friday X post. Market participants will likely remain cautious through the weekend with BTC tightly correlated with traditional markets amid heightened geopolitical risks, Skew added. On the longer timeframe, some analysts see risks of a deeper pullback. 10x Research founder Markus Thielen noted that BTC's drop below $106,000 translates to a failed breakout, and traders should wait for more favorable setups before rushing to buy the dip. He highlighted the $100,000-$101,000 zone as key support, warning that a break below could mark a return to the broader consolidation phase similar to last summer. John Glover, chief investment officer at bitcoin lender Ledn, argued that bitcoin entered a corrective phase from its record highs that could see the largest digital asset drop to $88,000-$93,000. He said the $90,000 level could offer a favorable entry for opportunistic investors before BTC resumes its uptrend. "Once this pattern has played out, the next move higher to the $130,000 area is expected to begin," he said.
Globe and Mail
12-06-2025
- Business
- Globe and Mail
3 Best Crypto Stocks to Buy Now, 6/11/25, According to Analysts
The cryptocurrency sector has entered the mainstream financing sector at a faster pace than expected. Although there is no single, unified law regulating cryptocurrencies, both investors and companies are making big bets on the sector's growth potential. Retail investors can also take advantage of the potential boom in the sector by investing in companies that mine digital assets or simply buy them and bulk up their treasuries. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Using TipRanks' Stock Comparison Tool for Best Cryptocurrency Stocks, we have identified three stocks with Strong Buy ratings from analysts. Here are this week's stocks: Riot Platforms (RIOT) – Riot Platforms is an American Bitcoin mining company, focused on expanding its operations by consistently increasing its Bitcoin mining hash rate and infrastructure capacity. In the last three months, all 10 Wall Street analysts covering RIOT stock have rated it a Strong Buy, with their 12-month average Riot Platforms price target indicating an upside of about 46.4%. RIOT stock is up 2.4% year-to-date. Strategy (MSTR) – Strategy is a software platform, providing business intelligence, mobile software, and cloud-based services. Strategy's business strategy involves buying and holding bitcoin for the long term. In the last three months, 12 Wall Street analysts covering MSTR stock rated it a Buy, while one analyst rated the stock a Sell. Their 12-month average Strategy price target indicates an upside of about 34.2%. MSTR stock is up 35.1% year-to-date. Nvidia (NVDA) – Nvidia is a semiconductor giant, whose GPUs (Graphic Processing Units) are used worldwide for training artificial intelligence (AI) models and for crypto mining. In the last three months, 35 Wall Street analysts covering NVDA stock rated it a Buy, while four analysts rated the stock a Hold, and one rated it a Sell. Their 12-month average Nvidia price target indicates an upside of about 19.8%. NVDA stock is up 7.1% year-to-date. View real-time prices of various cryptocurrencies, discover the latest happenings in the sector, and research crypto-related stocks on the TipRanks' Cryptocurrency page.
Globe and Mail
11-06-2025
- Business
- Globe and Mail
Bear of the Day: Riot Platforms (RIOT)
Riot Platform's (RIOT) is a Zacks Rank #5 (Strong Sell) that is a Bitcoin mining and digital infrastructure company based in the United States. The company's primary business is mining Bitcoin using specialized hardware and large-scale data centers that consume high amounts of electricity. Despite Bitcoin moving to all-time highs, Riot has struggled to gain any traction. The company has missed on earnings three of the last four quarters and the stock has traded sideways since 2022. About the Company Riot owns and operates one of the largest Bitcoin mining facilities in North America, located in Rockdale, Texas. It focuses on vertically integrated operations, which means it manages key parts of the mining process in-house, including power procurement, facility development, and miner deployment. The stock holds Zacks Style Scores of 'F' in Growth, Momentum, and Value. The company is valued at $3.6B and pays no dividend. Q1 Earnings Riot Platforms reported an EPS miss of 260%, but saw revenue of $161.4 million, narrowly topping expectations. Results were weighed down by a $271 million mark-to-market Bitcoin loss, leading to a net loss of $296 million and adjusted EBITDA of -$178.4 million, compared to a strong profit a year ago. Riot made strategic progress including the acquisition of Rhodium's Rockdale assets, which ended costly litigation and unlocked 125 MW of new mining power. The company's self-mining hash rate rose 7% quarter over quarter, with average uptime nearing 90%. Riot also continues to push forward on its AI and high-performance computing (HPC) data center strategy, with site expansions and infrastructure upgrades underway at its Corsicana facility. Riot's Bitcoin holdings increased to over 19,000 BTC, valued at $1.6 billion. Earnings Estimates Falling While there was some positive news on the call, the bottom line is not giving investors what they want. And with that, analysts are dropping their earnings estimates. For the current quarter, numbers have dropped 36% over the last three months, from -$0.19 to -$0.26. Looking at the current year, estimates have dropped drastically, going from -$0.68 to -$1.53. For the next year, numbers continue to fall deep into the red, now at -$1.00, down from -$0.63. Technical Take When you zoom out on the RIOT chart, you see a stock that has mostly flatlines, with some spikes higher due to excitement surrounding the upward trajectory of Bitcoin. However, over the last two years, Bitcoin has seen a move from $30k to $112k, while RIOT is trading at the same level around $10 a share. This is a bad relative strength signal that suggests larger problems in the fundamental world. The danger here for Riot investors would be a drop of Bitcoin price. This could impact RIOT in a major way and take the stock back down to the 2025 lows around $6. In Summary Despite record Bitcoin prices, Riot Platforms continues to disappoint investors with widening losses and declining earnings estimates. The company's operational improvements and ambitious AI data center plans have yet to translate into financial strength or stock momentum. With shares lagging Bitcoin badly and estimates trending deeper into the red, Riot presents more risk than reward in the current environment. Until profitability improves and relative strength returns, this remains a name to avoid. For those interested in the Bitcoin space, a better option might be MicroStrategy (MSTR). The stock is a Zacks Rank #3 (Hold) that is better correlated to Bitcoin. Zacks' Research Chief Names "Stock Most Likely to Double" Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest. This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%. Free: See Our Top Stock And 4 Runners Up Riot Platforms, Inc. (RIOT): Free Stock Analysis Report MicroStrategy Incorporated (MSTR): Free Stock Analysis Report
