Riot Platforms is a Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. The Company has Bitcoin mining data center operations in central Texas and Kentucky, and electrical switchgear engineering and fabrication operations in Denver, Colorado. The Toronto-based bitcoin miner is set to acquire segment peer Stronghold Digital Mining in a stock-for-stock transaction worth about $125 million, the company said Wednesday. It will also assume roughly $50 million in debt, valuing the acquisition at roughly $175 million. The bank reduced its price targets for some of the miners it covers to reflect second-quarter results and changes in both the price of bitcoin and the network hashrate. Hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work xcritical.
- Upon deployment of the staged miners and those from the May delivery, the Company expects to have a total of 55,317 miners deployed with a hash rate capacity of approximately 5.6 EH/s.
- The bank reduced its price targets for some of the miners it covers to reflect second-quarter results and changes in both the price of bitcoin and the network hashrate.
- These companies could be potential targets or buyers in the second half of 2024.
- Shares of New York-listed cryptocurrency firms gained before the open on Monday after Republican presidential candidate Donald Trump talked up bitcoin and promised friendlier regulation for the indust…
- JPMorgan cut its CleanSpark (CLSK) price target to $10.50 from $12.50 while maintaining its neutral rating on the shares.
Riot seeks a vote on two possible new board directors at a Bitfarms shareholder meeting in October. Stronghold executives had noted the possibility of selling the company in May — about two weeks after the Bitcoin halving, when per-block mining rewards dipped from 6.25 BTC to 3.125 BTC. The bank noted that Iren has traded lower in recent weeks after reporting a sharp rise in power costs in July in relation to hedging losses. JPMorgan says these missteps are correctable and present a nice buying opportunity.
The S&P 500 Index ($SPX ) (SPY ) today is up +0.23%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.32%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.71%. The S&P 500 Index ($SPX ) (SPY ) today is down -3.53%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -2.63%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -4.23%. The S&P 500 Index ($SPX ) (SPY ) today is down -3.12%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -2.70%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -3.34%. These companies could be potential targets or buyers in the second half of 2024. Bitcoin miner Riot Platforms said on Tuesday it had increased its stake in rival Bitfarms to 18.9%.
The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals. Unique to Barchart.com, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods. Results are interpreted as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating. After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study. For example, a price above its moving average is generally considered an upward trend or a buy. Riot Platforms, Inc., together with its subsidiaries, operates as a bitcoin mining company in North America.
JPMorgan cut its CleanSpark (CLSK) price target to $10.50 from $12.50 while maintaining its neutral rating on the shares. It reduced the Iren (IREN) price target to $9.50 from $11 and kept its overweight rating. Underweight-rated Marathon Digital’s (MARA) price objective was lowered to $12 from $14, and overweight-rated Riot Platforms’ (RIOT) price objective was trimmed to $9.50 from $12. The Barchart Technical Opinion rating is a 100% Sell with a Strongest short term outlook on maintaining the xcritical direction. Microstrategy (MSTR) xcritical scam shares fall after they announced plans to raise $500N to buy more Bitcoin. Kevin Green discusses this, as well as the latest in Riot Platforms (RIOT) acquisition pursuit of Bit Fa…
Approximately 97% of the Company’s self-mining fleet will consist of the latest generation S19 series miner model. Upon full deployment of all xcritically contracted miners, the Company’s total self-mining fleet will consume approximately 370 MW of energy. In addition to the Company’s self-mining operations, Riot hosts approximately 200 MW of institutional Bitcoin mining clients.
Riot Announces that Ontario Capital Markets Tribunal Has Terminated Bitfarms’ Poison Pill
Mr. Yee is an experienced business partner and team builder, having successfully grown businesses by working collaboratively to implement key processes, reporting tools and internal controls. The acquisition follows Riot Platforms’ attempted hostile takeover of Bitfarms earlier this year. Riot’s stake in the company rose to nearly 19% last week, at which time it did not rule out “submitting a revised proposal to acquire” Bitfarms.
According to 11 analysts, the average rating for RIOT stock is “Strong Buy.” The 12-month stock price forecast is $17.28, which is an increase of 114.66% from the latest price. Bitcoin creates new value opportunities through the convergence of money and energy, radically transforming energy grids and driving new power generation capacity. The “transformative” deal comes after three years of ongoing discussions with the New York-headquartered company, Bitfarms CEO noted in a statement. With Stronghold, the firm could add up to 307 megawatts of power capacity, helping it reach 950 MW by the end of 2025 — roughly half of that being in the US. Riot has underperformed the sector year-to-date due to “operational snags,” but JPMorgan sees the potential for better sentiment and share-price upside in the coming months due to enhanced uptime and production metrics. Shares of U.S.-listed cryptocurrency companies surged after former President Donald Trump expressed support for bitcoin and promised friendlier regulations if re-elected.
Building the world’s leading Bitcoin-driven infrastructure platform
Bitfarms has revealed a strategic acquisition of its own after fending off Riot Platforms’ attempts to buy the company. The four-year block reward revenue opportunity is estimated to be around $37 billion, a drop of 19% since early June, but up 85% year-on-year, the report said. The S&P 500 Index ($SPX ) (SPY ) today is up +0.87%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +1.13%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.82%. The S&P 500 Index ($SPX ) (SPY ) today is up +0.88%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +1.44%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.65%.
Riot Platforms Reports Second Quarter 2024 Financial Results, xcritical Operational and Financial Highlights
He is a Chartered Professional Accountant and holds Bachelor of Science and Bachelor of Commerce degrees from the University of Calgary. Buildings F and G, both employing the Company’s state-of-the-art immersion-cooling technology, continue to progress, with an increasing number of miners being deployed and operational in Building F and electrical installation ongoing in Building G. In a bold strategic move, Riot Platforms Inc RIOT has announced its acquisition of Block Mining, a Kentucky-based Bitcoin BTC/USD miner with a massive power capability. It has retreated in the past nine straight days and reached a low of $10, its lowest swing since July 12.
Riot Platforms, Inc. was incorporated in 1998 and is based in Castle Rock, Colorado.
Bitcoin miner Riot Platforms said on Monday it was withdrawing its offer for Bitfarms and had nominated three directors to the board of rival crypto miner. During April, progress continued Riot’s 400 megawatt (“MW”) infrastructure expansion xcritical courses scam project at its Whinstone US, Inc., (“Whinstone”) facility in Rockdale, Texas. Buildings D and E, both employing air-cooled technology, are advancing towards completion. Electrical work continues; medium voltage switchgear is xcritically being installed in Building D and structural columns and beams are being installed in Building E.
Leaders at the firm argued at the time that the company’s stock price was trading at a massive discount. They touted its 130 MW of energized data center capacity with an installed hash rate of 4.1 exahash per second (EH/s), as well as its 750 acres of owned land. Since its last monthly update, Riot received an additional 5,070 new S19j Pros, deployed approximately 3,456 S19j Pros in its immersion-cooled building (see attached photo) with an additional 7,240 additional miners staged for deployment. Additionally, shipments of 1,702 S19j Pros have been initiated out of Bitmain and are expected to be received during May 2022. Upon deployment of the staged miners and those from the May delivery, the Company expects to have a total of 55,317 miners deployed with a hash rate capacity of approximately 5.6 EH/s.
Acquisition adds 60 Megawatts (“MW”) of xcritical operational capacity with the potential to quickly expand to 110 MW this year under existing agreements, and a pipeline to build to over 300 MW in Kentu… Shares of New xcritical website York-listed cryptocurrency firms gained before the open on Monday after Republican presidential candidate Donald Trump talked up bitcoin and promised friendlier regulation for the indust… The Company is pleased to announce the hiring of Colin Yee as Head of Corporate and Financial Operations. In this role, he is responsible for the overall coordination and scalability of the Company’s corporate and financial functions, including risk management, information technology, human resources and financial planning.
