#4 - Riot Platforms (NASDAQ:RIOT)
No matter how you feel about Bitcoin (BTC) as an asset class, you must acknowledge that it's been one of the best-performing assets in 2024. Riot Platforms Inc. (NASDAQ: RIOT) gives you a way to invest in a blockchain future without owning the digital currency.
Here's why. Bitcoin is "mined" via specialized, high-speed computers that compete to solve complex cryptographic problems. Riot operates one of the largest blockchain mining networks in the world. As a result, it has the lowest mining costs, which means it's a very efficient company. That's not the case with many Bitcoin miners.
The company's low mining costs will stand out as the next Bitcoin halving occurs in April 2024. This means miners' profits will be cut in half (as Bitcoin nears its maximum supply of 21 million). This will benefit efficient operators like Riot even as RIOT stock is up 161% in the last 12 months.
About Riot Platforms
Riot Platforms, Inc, together with its subsidiaries, operates as a bitcoin mining company in North America. The company operates through three segments: Bitcoin Mining, Data Center Hosting, and Engineering. It also provides co-location services for institutional-scale bitcoin mining companies; critical infrastructure and workforce for institutional-scale miners to deploy and operate their miners; operation of data centers; and maintenance/management of computing capacity.
Read More - Current Price
- $12.31
- Consensus Rating
- Buy
- Ratings Breakdown
- 11 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $16.35 (32.8% Upside)
