Tags: Riot Platforms

Despite mining fewer Bitcoin, Riot’s holdings reportedly surged 141% to 17,722 BTC following strategic acquisitions and fundraising efforts.

Coinbase dominates the exchange sector, holding 63.6% of the market’s value while miners shift toward AI, Web3, and cloud computing.

Riot produced 1,104 Bitcoin in Q3 2024, maintaining last year’s production level despite challenges from the halving event.

Riot Platforms recently acquired another Block Mining.

The deal boosts Riot’s hash rate by 1 EH/s right away, while expanding into Kentucky.

On June 5, Kerrisdale Capital launched a war on Bitcoin miners, labeling them an industry of snake oil salesmen.

Despite a rejected $950M acquisition offer for Bitfarms, the mining firm Riot acquired a 9.25% stake, becoming its largest shareholder.

The announcement came shortly after the recent boom in Bitcoin price.