Latest news with #RiotPlatformsInc
Yahoo
a day ago
- Business
- Yahoo
Needham Lifts Price Target on Riot Platforms (NASDAQ:RIOT) to $15, Keeps a Buy Rating
Riot Platforms Inc. (NASDAQ:RIOT) is one of the 13 Crypto Stocks with the Highest Upside Potential. On June 17, Needham analyst John Todaro raised the firm's price target on Riot Platforms Inc. (NASDAQ:RIOT) to $15 from $12, keeping a Buy rating on the shares. The analyst based the rating upgrade on the significant opportunities present for the company, with one of the primary reasons being its Corsicana site. A computer engineer working in a futuristic office, programming algorithms to mine cryptocurrency. The analyst told investors in a research note that the Corsicana site is considered one of the most promising high-performance computing (HPC) locations in the company's coverage. He further reasoned that in recent checks with neo-cloud operators, Riot Platforms Inc. (NASDAQ:RIOT) found that over 50% of the demand is for inference workloads, and it is continuously growing. Inference workloads require low latency, and the Corsicana site is well-positioned to meet the growing demand with its beneficial location near Dallas and considerable capacity. Another reason behind the analyst's optimistic outlook is Riot Platforms Inc.'s (NASDAQ:RIOT) focus on the transition to HPC, expecting advanced discussions with potential tenants by H2 2025. Todaro stated that while a lease is not expected until H1 2026, it could have a substantial financial impact, considerably boosting the company's share price. Riot Platforms (NASDAQ:RIOT) is a Bitcoin mining and digital infrastructure company. It operates Bitcoin mining operations in Kentucky and central Texas, along with electrical switchgear engineering and fabrication operations in Denver. The company is divided into two segments: Bitcoin Mining and Engineering. The Bitcoin Mining segment undertakes Bitcoin mining activities, while the Engineering segment manufactures and designs power distribution equipment and custom-engineered electrical products. 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: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
Yahoo
09-06-2025
- 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
09-06-2025
- 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
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.
