Riot Platforms: A Summer Of Hostility And Energy Credits?


  • Riot Platforms has underperformed compared to other Bitcoin mining peers, down 12% over the last year.
  • Riot Platforms has made a bid to takeover smaller mining peer Bitfarms. Following rejection, RIOT has begun a hostile takeover attempt by acquiring 12% of BITF.
  • Given the recent block reward halving, I suspect Riot Platforms will benefit from power credit optionality. This is not an advantage shared by peers.

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One of the Bitcoin (BTC-USD) miners that has lagged the peer group year to date and over the last 12 months is Riot Platforms (NASDAQ:RIOT). Down 12% over the last year while other mining peers have

Analyst’s Disclosure: I/we have a beneficial long position in the shares of BTC-USD, RIOT, MARA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I'm not an investment advisor. I have a small speculative long in RIOT that I envision exiting later this summer.

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