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Riot Platforms, Inc. reported strong financial performance for fiscal year 2024, with revenue of $376.7 million (up from $280.7 million in 2023) and net income of $109.4 million, surpassing analyst expectations. Bitcoin mining revenue rose to $321 million, driven by higher Bitcoin prices and an increased operational hash rate, despite a decline in Bitcoin production (4,828 in 2024 vs. 6,626 in 2023). The average cost to mine Bitcoin increased significantly to $32,216 due to reduced power credits, the Bitcoin halving event, and a 67% rise in the global network hash rate. Riot reported adjusted EBITDA of $463.2 million and held 17,722 unencumbered Bitcoins valued at $1.65 billion as of year-end. Key financial metrics included an 80.88% revenue growth rate, a net margin of 95.7%, and a debt-to-equity ratio of 0.2. Analysts raised the average 12-month price target to $18.31, with a high of $23.00. Strategically, Riot announced a potential $185 million acquisition of Rhodium Encore LLC’s assets to expand its mining capacity, pending Bankruptcy Court approval. The company also acquired E4A Solutions for $52 million to enhance engineering capabilities. However, rising operational costs and limited updates on high-performance computing (HPC) opportunities in Texas have raised concerns. Despite these challenges, Riot’s strategic initiatives and favorable market conditions have positioned the company for continued growth.
Source content provided by Benzinga.
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Riot Platforms Stock Falls After Weaker April Bitcoin Production Report: What's Going On?

Riot Platforms, Inc. (NASDAQ: RIOT) shares are trading lower Monday following the release of its April 2025 production and operations update.

World Liberty's Stablecoin In $2 Billion Deal, SoFi Reintroduces Crypto And Riot Platforms' Q1 Results: This Week In Crypto

The weekend was a whirlwind of activity in the financial world, with a particular focus on cryptocurrencies. From Peter Schiff’s surprising preference for Dogecoin over Bitcoin to Riot Platforms’ Q1 results, there was no shortage of intriguing developments. Let’s dive into the top stories. Peter Schiff Prefers Dogecoin Over Bitcoin

Riot Platforms Powers Up: Analyst Gives 4 Reasons Why He Is Bullish

Riot stock jumps as analyst stays bullish on HPC potential, low mining costs, and strong balance sheet despite lowered price target.

About RIOT

Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies. The company's segments include Bitcoin Mining and Engineering. The Bitcoin Mining segment generates revenue ... Read more

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Bullish Option Strategy: Long Calls

Traders buy a single call option on a stock or ETF. This strategy can benefit from a price increase while risking more capital than a spread.

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