tl;dr
In a recent development, Riot Platforms (NASDAQ: RIOT) has made a significant move by entering into a purchase agreement with Shenzhen MicroBT Electronics Technology to acquire 31,500 M60S miners for a whopping $97.4 million. The delivery of the miners is anticipated to take place in May and June of...
In a recent development, Riot Platforms (NASDAQ: RIOT) has made a significant move by entering into a purchase agreement with Shenzhen MicroBT Electronics Technology to acquire 31,500 M60S miners for a whopping $97.4 million. The delivery of the miners is anticipated to take place in May and June of 2024, with Riot eagerly looking forward to deploying them. Once operational, the Rockdale Facility's self-mining hash rate capacity is projected to witness a notable increase from 12.4 EH/s to 15.1 EH/s by the conclusion of July 2024. This deal marks a momentous leap for Riot Platforms in strengthening its foothold in the cryptocurrency mining space.
More about Riot Blockchain Inc
Riot Blockchain Inc. is a company that focuses on cryptocurrency mining operations in North America. The company's market cap is $3,587,166,000 with a stock price of $18.63 per share. The company has a negative EPS of -0.28 and a P/E ratio of 1.604, indicating potential undervaluation. The market sentiment towards Riot Blockchain Inc. appears to be bullish, with a relative strength index (RSI) of 2.333, suggesting strong buying momentum. However, it is important to note that cryptocurrency mining operations can be volatile and subject to regulatory and technological risks, so potential investors should be cautious and conduct thorough research before making any investment decisions.
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