Riot Platforms Inc (RIOT)

[BitcoinHype]

HokieHead: Use common sense....

Riot spent about $12 Million to buy about $2 to $3 million worth of Mining equipment:
https://seekingalpha.com/article/4133076-riot-blockchain-inc-primed-drop

Do your own research on what they bought.... I saw many articles citing similar numbers.

Also, let's give them the benefit of the doubt, and say they got the fair market value of $12 Million....

If you really believe that a company could use $37 Million, and turn an automatic $90 million in annual profits, why don't you just put all of your money into buying your own mining machines? Actually, why is not everybody and every company doing the same thing if mining equipment is free money.... Even if it was, that would change overnight since it is a free market, and mining is VERY competitive.... Also, the largest miners are based in countries such as China where the electricity cost is lower....

Here are some general articles on mining:

https://99bitcoins.com/bitcoin-mining-profitable-beginners-explanation/

https://www.finder.com/bitcoin-mining

Curious if I get a real response :)