2024-03-20 06:13:01 ET
Summary
- Riot is down 25% this year amid the anticipated reduction in Bitcoin rewards post-halving.
- Continued rise in Bitcoin price could help mining companies overcome the adverse impact on revenues.
- Riot recently acquired over 30,000 miners to boost mining capacity.
- The company expects to more than double its hash rate by the end of the year.
Introduction
Since I wrote my last article on Bitcoin last month, the BTC/USD price has surged to new all-time highs, just as expected, albeit earlier than predicted. We are still a few weeks from the halving event, which is expected to have an impact on some stocks linked to Bitcoin.
From Bitcoin miners to Bitcoin treasuries and even exchange-traded funds (ETFs). The big question many will be asking themselves is whether Bitcoin can maintain the current rally post-halving, in which case, some stocks could benefit from it....
Read the full article on Seeking Alpha
For further details see:
Riot Platforms Looks Poised To Ride The Bitcoin Rally