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Riot Platforms Inc   (RIOT)
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Price: $11.4300 $-0.17 -1.466%
Day's High: $11.58 Week Perf: -1.64 %
Day's Low: $ 11.21 30 Day Perf: -30.85 %
Volume (M): 1,737 52 Wk High: $ 20.65
Volume (M$): $ 19,651 52 Wk Avg: $12.38
Open: $11.45 52 Wk Low: $7.66



 Market Capitalization (Millions $) 31,646
 Shares Outstanding (Millions) 2,769
 Employees -
 Revenues (TTM) (Millions $) 281
 Net Income (TTM) (Millions $) -49
 Cash Flow (TTM) (Millions $) 367
 Capital Exp. (TTM) (Millions $) 268

Riot Platforms Inc
We are a vertically integrated Bitcoin mining firm that is primarily focused on improving our mining skills. At our Bitcoin mining facility in Rockdale, Texas, we also supply the necessary mining infrastructure for our institutional size clients to mine Bitcoin. Our Whinstone operation is thought to be the largest Bitcoin mining facility in North America in terms of developed capacity.
We operate in an environment which is consistently evolving based on the proliferation of Bitcoin and cryptocurrencies in general. A significant component of our strategy is to effectively and efficiently allocate capital between opportunities that we believe will generate the highest return on our capital.
Our Mining operations are focused on maximizing our ability to successfully mine Bitcoin by growing our hash rate (the amount of computer power we devote to supporting the Bitcoin blockchain) to increase our chances of successfully verifying transactions to be recorded in the decentralized digital ledger comprising the Bitcoin blockchain. Generally, the greater share of the Bitcoin blockchain's total network hash rate (the aggregate hash rate deployed to solving a block on the Bitcoin blockchain) represented by a miner's hash rate, the greater the miner's chances of earning Bitcoin rewards. As additional miner operators have entered the market in response to increased demand for Bitcoin, the Bitcoin blockchain's network hash rate has grown. We expect this trend to continue, so we expect to need to continue to grow our hash rate to compete in our dynamic and highly competitive industry.
A mining pool is a service operated by a mining pool operator that pools the resources of individual miners to share their processing power over a network and split rewards according to the amount of hash rate they contributed to the probability of placing a block on the blockchain. Mining pools emerged in response to the growing difficulty and network hash rate competing for Bitcoin rewards on the Bitcoin blockchain, as a way of lowering costs and de-risking an individual miner's mining activities.
The mining pool operator provides a service that coordinates the computing power of the independent mining enterprises participating in the mining pool. The pool uses software that coordinates the pool members' hash rate, identifies new block rewards, records how much work all the participants are doing, and assigns Bitcoin rewards to its participants in proportion to the hash rate each participant contributed to the successful mining transaction. Fees are paid to the mining pool operator to cover the costs of maintaining the pool and are deducted from amounts we may otherwise earn. Fees (and payouts) fluctuate and historically have been no more than approximately 2% per reward earned, on average. Mining pools are subject to various risks such as disruption and down time. In the event that a pool experiences down time or is not yielding returns, our results may be impacted.


   Company Address: 3855 Ambrosia Street Castle Rock 80109 CO
   Company Phone Number: 794-2000   Stock Exchange / Ticker: NASDAQ RIOT
   


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
COIN   -6.45%    
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Product Service News

Riot Blockchain's Impressive Bitcoin Production in February 2024 Amidst Favorable Revenue Growth

Published Tue, Mar 5 2024 2:00 PM UTC

In February 2024, Riot Blockchain, a leading Bitcoin mining company, experienced a significant increase in its Bitcoin production while also providing key updates on its infrastructure. Furthermore, Riot Platforms Inc, the corporate arm of the company, witnessed mixed revenue results compared to the previous year but exhibited sequential growth. This article aims to provide ...

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Riot Enhances Self-Mining Operations and Records Revenue Growth Amidst Shifting Market Dynamics

Published Tue, Feb 27 2024 2:00 PM UTC

In a move to enhance and expand its self-mining operations, Riot Platforms Inc has recently purchased 31,500 WhatsMiner M60S miners from MicroBT. This strategic investment aims to replace underperforming machines, improve mining efficiency, and introduce additional hash rate capacity at the Rockdale Facility. This development is expected to solidify Riot's position as a lea...

Riot Platforms Inc

Riot Platforms Inc Achieves Remarkable Turnaround in Q4 2023 Earnings Season

Riot Platforms Inc, a prominent player in the Miscellaneous Financial Services industry, has reported positive financial results for the fourth quarter of the 2023 earnings season. The company displayed significant turnaround and profitability, with earnings per share of $0.03 compared to a loss of $0.66 per share in the previous year. Additionally, net profit per share turned positive from a loss of $0.25 per share in the preceding quarter.
One of the key highlights of Riot Platforms Inc's performance was the impressive revenue growth. The company experienced a substantial 31.032% increase in revenue, reaching $78.81 million in the fourth quarter of 2023, compared to $60.15 million in the same period a year ago. Sequentially, revenue surged by 51.88% from $51.89 million, indicating strong growth momentum.

Product Service News

Riot Blockchain's January 2024 Mining Operations: Amplifying Bitcoin Production and Enhancing Sales Strategy

Published Mon, Feb 5 2024 2:00 PM UTC

Riot Blockchain, a prominent player in the cryptocurrency industry, has announced a major update on its production and operation strategies for January 2024. The U.S.-based company has reportedly mined 520 Bitcoin, thereby displaying promising growth momentum in the new year. In addition, the company has also revised its Bitcoin sales strategy in the wake of escalating deman...

Product Service News

Riot's Bitcoin Production Surges in 2023: An Analysis of Its Power Strategy and Market Competition

Published Thu, Jan 4 2024 2:01 PM UTC

The blockchain mining industry has been experiencing rapid growth, and one of the leading contributors to this trend is Riot Platforms Inc. The firm recently announced its operation and production updates for December 2023 and has reported some substantial figures. In a laudable feat, Riot produced 619 Bitcoin in December 2023, thus bringing the total Bitcoin produced in the...






 

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Riot Platforms Inc does not provide revenue guidance.

Earnings Outlook
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