Riot Platforms Inc (RIOT)

[conix]

You are welcome. There are some great opportunities out there in the crypto mining space. When things were good and market sentiment was positive and Bitcoin prices were up, companies boasted about how many machines they had ordered and how many they projected to be up and running by a certain time.

Now we come to find out that there are companies that do not have access to cheap power like they had imagined. And some companies do not have the expertise to get the machines they finally get delivered to be get deployed quickly.

Some of these companies are burning so much cash, they are selling their bitcoins to operate--which means they will have to take the "loss" from the previous quarter's higher bitcoin price.

MIGI is a crypto miner that I did not hear of--or was on any list of crypto mining companies-until pretty recently. So far, I am impressed because they have not diluted to pay operating costs--they sell their bitcoin on an ongoing basis. Just expanded into PA and TX from a big facility in GA.

But to see that RIOT sold 50% of their bitcoin holdings is really going to whack their next quarter's earnings. Just be prepared for that.