$RIOT Platforms +21%: Crypto Mining Gold or Flash in the Pan?🚀 Riot Platforms +21%: Crypto Mining Gold or Flash in the Pan? 🚀
When Bitcoin sneezes, miners either catch a cold or rocket to the moon. Let’s see why Riot just caught some serious altitude.
1/ – Riot’s Rising Star
Riot Platforms has surged 21% in the past week, lighting up the crypto mining scene like a 🌠. Is this liftoff built on solid fundamentals—or just another ride on Bitcoin’s 🎢 volatility? Let’s find out! 🚀
2/ – Stock Performance Recap
From $12.34 to $12.89 (+4.46% in a single day), Riot racked up that 21% jump in just a week. Traders on TradingView are buzzing 🐝—the big question is whether Riot can maintain this momentum or if there’s turbulence ahead. 🤔
3/ – Earnings Overview
They reported a net loss of $(154.4)M ($(0.54)/share) in Q3. While it looks hefty, most of it’s from non-cash expenses (stock-based comp + depreciation). Meanwhile, Riot’s aiming for 34.9 EH/s by the end of 2024, hoping to mine its way to a bigger slice of the BTC pie. ⚒️💰
4/ – Undervalued vs. Peers?
Compared to NASDAQ:MARA Marathon Digital and Hut 8 Mining, Riot’s lower P/B ratio could be a sign of undervaluation. With a market cap near $4.13B, low debt, and solid 🏦 reserves, Riot might be set up for resilience—if Bitcoin behaves. 🤞
5/ – Biggest Risks
1️⃣ Regulatory Spotlight: Energy use & environmental impact = potential roadblocks. 🔍
2️⃣ BTC Rollercoaster: Price swings can boost or bruise miner revenues. 🎢
3️⃣ Expansion Delays: Facility hiccups can stall hash rate growth. ⏳
Invest wisely, folks. 🏁
6/ – Growth Ambitions
Riot wants 46.7 EH/s by 2025. If Bitcoin holds its upward trend 📈, more hash power = more BTC mining rewards. But in this high-stakes race, competition is fierce and only the most efficient miners survive. 🏆🔥
7/ – 🗳️
Where do you stand on Riot’s future?
1️⃣ Bullish: Hash rate expansion = 🚀
2️⃣ Bearish: Crypto mining is too risky ⚡
3️⃣ Neutral: Waiting on BTC’s next move 🧐
