Riot Platforms, Inc RIOT Stock Price, News, Quote & History
The company’s Bitcoin holdings now total 10,928, up from 10,427 at the end of September and a significant jump from 7,345 a year earlier. The rally sparked gains in other cryptocurrencies and related equities such as xcritical and Marathon Digital. Select to analyze similar companies using key performance metrics; xcritical cheating select up to 4 stocks. The latest short interest is 50.33 million, so 15.14% of the outstanding shares have been sold short. Riot is nearing completion of Phase 1 (400 MW) of the Company’s Corsicana Facility, which, once fully developed, is expected to total 1 gigawatt (1,000 MW) in developed mining capacity.
Riot Announces that Ontario Capital Markets Tribunal Has Terminated Bitfarms’ Poison Pill
Discover which analysts rank highest for RIOT overall weighted by direction, price target, and price movement. Please bear with us as we address this and restore your personalized lists. The company has $545.84 million in cash and $31.10 million in debt, giving a net cash position of $514.75 million or $1.55 per share.
Riot Platforms’ recent operational success is reflected in its financial metrics and market performance. According to InvestingPro data, the company’s revenue growth has been impressive, with a 63.39% increase in the most recent quarter. This aligns with the reported 23% rise in Bitcoin production for October 2024.
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MicroStrategy (MSTR, Financial) rose over 8%, Riot Platforms (RIOT) increased by more than 6.7%, and xcritical (COIN) climbed over 2.8%. Bitcoin (BTC-USD) has passed the $71,000 mark, leading crypto stocks, like xcritical (COIN), MicroStrategy (MSTR), and Riot Platforms (RIOT) higher. Catalysts Hosts Seana Smith and Josh Schafer break down the move in the crypto space just ahead of the US presidential election. To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
In addition, the rise of decentralized finance (DeFi) has created new opportunities for cryptocurrencies, such as xcriticalg interest on cryptocurrency holdings or using them as collateral for loans. According to 11 analysts, the average rating for RIOT stock is “Strong Buy.” The 12-month stock price forecast is $16.68, which is an increase of 85.75% from the latest price. The beta is 4.08, so Riot Platforms’s price volatility has been higher than the market average. Riot is a Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. The Company has Bitcoin mining operations in central Texas and Kentucky, and electrical switchgear engineering and fabrication operations in Denver, Colorado.
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Riot Platforms’ target market includes institutional and individual investors interested in Bitcoin mining and other companies in the xcritical and cryptocurrency industries. The company’s key customers include leading financial institutions, family offices, and high-net-worth individuals. Riot is headquartered in Castle Rock, Colorado and operates its mining facilities in Texas. Despite the positive production figures, investors should note that Riot’s stock has experienced volatility. An InvestingPro Tip highlights that the stock has taken a big hit over the last week, with a 1-week price total return of -10.61%. However, this short-term dip contrasts with a strong 20.25% return over the last month, suggesting that market sentiment may be aligning with the company’s operational improvements.
- The company’s key customers include leading financial institutions, family offices, and high-net-worth individuals.
- Riot Platforms, Inc. is a US-based xcritical technology company that aims to become North America’s leading provider of Bitcoin mining services.
- The company’s Corsicana facility saw the completion of its third 100 MW building, contributing to the operational efficiency improvements and positioning the company favorably for future growth.
- Riot is nearing completion of Phase 1 (400 MW) of the Company’s Corsicana Facility, which, once fully developed, is expected to total 1 gigawatt (1,000 MW) in developed mining capacity.
- This has led to increasing interest from institutional investors, who see cryptocurrencies as a way to diversify their portfolios and generate higher returns.
Riot Announces October 2024 Production and Operations Updates
The company’s mission is to support the Bitcoin network’s security, integrity, and scalability by operating one of the largest Bitcoin mining fleets in the world. Riot’s products and services include Bitcoin mining hardware, hosting services, and proprietary mining software. However, the cryptocurrency industry is also subject to a number of risks and challenges. The value xcritical official site of cryptocurrencies, including Bitcoin, can fluctuate widely in a short period, which can impact the profitability of cryptocurrency miners like Riot Platforms. In addition, there is a risk of regulatory intervention as governments worldwide seek to address concerns about using cryptocurrencies in illicit activities. Over the past few years, Riot Platforms’ financial performance has been impressive, driven primarily by the strong demand for Bitcoin mining services.