2024-02-07 06:28:58 ET
Summary
- Riot Platforms has seen a decline in its stock price and has badly underperformed Bitcoin since late December.
- The company changed HODL strategy in January, seemingly out of a sense of urgency with the looming halving.
- Riot's mining fleet has been inefficient compared to other miners.
- With massive growth planned for this year and 2025, shareholders should be mindful of how BTC per EH/s numbers change in the coming months.
It has been nearly five months since I last covered Riot Platforms (RIOT) for Seeking Alpha. At that time, the company was enduring a bit of PR problem as Riot's power credit revenue during extreme summer heat was scrutinized. This is an excerpt from my summary back in September:
When I covered the company in late July, I said I was not buying the rip. Now that the shares are 40% lower from where they were when that article was published, you could talk me into getting slightly more aggressive with a DCA strategy. I think anything under $10 is probably a reasonable starting point if you're looking to build a RIOT position.
Read the full article on Seeking Alpha
For further details see:
Riot Platforms: Efficiency Woes And Underperformance (Rating Downgrade)