Riot Platforms, a Bitcoin mining company, reports record Q1 2024 earnings, but profitability largely from fair value changes; stock down 30% YTD, despite challenges from Bitcoin halving.
Riot Platforms, a top Bitcoin mining company, reported record earnings of $211.8M and $245.7M in adjusted EBITDA for Q1 2024, but profitability is largely due to changes in fair value. Stock is down 30% YTD, however, the company aims to grow and become more efficient despite challenges from the recent Bitcoin halving event. Riot Platforms could be an underrated buy opportunity for investors.
May 11, 2024
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