Riot Platforms Inc (RIOT)

[WhichWayToday]

Hey Rayank. I agree with your side on this. The company did release the earnings as you were told so thanks for sharing that with all of us. If they hadn't then like you say, it would tend to indicate something was not right. Don't get put off by one person.

What did you think of the earnings ? I thought they were great even though they are showing a loss. That is what loads of companies do. Loss means no taxes to pay and some companies keep that story going for years all the while growing. This is why the accountants get paid big money. This is what Riot is doing as I see it.

The $600 million was raised after all and we had some more dilution but that is behind us now. What they do with this cash is the question. More miners, buy Bitcoin or some other crypto ? Or buy an existing mining company for a good price ? Time will tell but they need to use that cash to make more. I'm sure Riot management are brewing a plan.

Bitcoin seems to be recovering again after the dump yesterday so we might see a Riot bounce again. GL