Riot Platforms (RIOT) Skyrockets as Bitcoin Booms – Latest News, Insights & Forecasts
Riot Platforms shares jumped over 10% this week as Bitcoin topped $100,000 and the company reported record August production of 477 BTC, generating $51.8 million in revenue. Riot posted Q2 net income of $219.5 million, reversing losses, driven by a $470 million gain on Bitcoin holdings. The firm’s mining costs remain among the lowest in the sector. Short interest in Riot stock stands at about 22% of float.