Riot Platforms

Riot Achieves $84.8M Revenue Boost in Q3 2024, But Future Hash Rate Capacity Predictions Revised Lower

Bitcoin mining firm Riot recorded $84.8 million in revenue in the third quarter of 2024, representing a 65% increase over the same quarter in 2023. This growth can be attributed to the 159% year-over-year increase in deployed hash rate which reached 28 EH/s by the end of the quarter. Riot’s Q3 Financial Results According to...
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April’s Bitcoin Halving Drives Riot Platforms’ Widened Q2 Losses

In the second quarter of this year, Riot Platforms recorded a net loss of $84.4 million, compared to $27.4 million in the previous year’s same quarter. The American Bitcoin mining firm’s widened losses are a result of the continued impact of April’s Bitcoin halving. Riot’s Q2 Performance According to the quarterly report, Riot reported a...
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Riot Platforms Acquires Block Mining for $92.5M, Expands Hash Rate and Market Reach

The leading American Bitcoin mining company – Riot Platforms – has acquired the Kentucky-based firm Block Mining in a transaction valued at $92.5 million. The deal, announced on July 24, includes $18.5 million in cash from Riot’s reserves and $74 million in Riot common stock. Additionally, Block Mining could receive up to $32.5 million more,...
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Riot Platforms Boosts Bitfarms Stake with Additional Share Acquisition

Riot Platforms has announced the purchase of an additional 1,432,063 shares of Bitfarms. The acquisition, completed on June 10 at approximately $2.7 per share, represents an investment of around $3.87 million. This latest move brings Riot’s total holdings to approximately 57.62 million shares, accounting for about 14% of Bitfarms. Riot’s Ongoing Takeover This announcement is...
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Bitfarms Outlines Defense Plan Against Rival Riot’s Ongoing Takeover Bid

Bitfarms announced on Monday that its Board of Directors has unanimously approved a shareholder rights plan, effective immediately, to preserve the integrity of its strategic alternatives review process in response to an unsolicited takeover offer from Riot Platforms Inc. The plan, commonly known as a “poison pill,” is intended to prevent any party from gaining...
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Riot Stock Rebounds Strongly, Shrugging Off Short Seller’s Report

Riot shares experienced a recovery on June 5 following a report from short seller Kerrisdale Capital. The paper, released just before the Nasdaq opened, accused Riot of mismanagement and predicted the firm’s impending collapse, stating that Bitcoin miners are selling “snake oil.” Kerrisdale ‘Declares War’ on Bitcoin Miners Kerrisdale’s June 5 report said that RIOT...
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Riot Platforms Pursues Acquisition of Competitor Bitcoin Miner Bitfarms

Riot Platforms Inc., a leading crypto mining company, has announced its intention to acquire Bitfarms Ltd., another significant player in the Bitcoin mining industry. Riot has already acquired a 9.25% stake in Bitfarms and plans to make a public takeover offer despite the company’s board’s recent rejection. Global Bitcoin Mining Giant Riot has proposed an...
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Riot Platforms Buy $291 Million In Mining Rigs, Locks In Price For Even More

Riot Platforms is one of the leading cryptocurrency mining companies with a steady stream of income. A Well-Grounded Company The company’s strength lies in the sheer scale of operations, which allows it to drive down the cost of mining Bitcoin by virtue of its immense processing power. Although it faced a significant downturn during crypto...
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