Kerrisdale Capital's Sahm Adrangi issued a bearish report on Bitcoin miner Riot Platforms, causing shares to drop.
Kerrisdale Capital's founder and CIO Sahm Adrangi issued a report expressing a bearish view on Riot Platforms, a $3 billion Bitcoin miner. Adrangi stated that Bitcoin mining is a problematic business model due to unpredictable revenue, high capital requirements, intense competition, and increasing regulatory scrutiny. Riot Platforms shares dropped as a result.
June 05, 2024
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