Riot Platforms Powers Up: Eyes $185 Million Acquisition Deal To Boost Mining Capacity
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 24 2025
0mins
Should l Buy RIOT?
Source: Benzinga
Riot Platforms Acquisition: Riot Platforms, Inc. is set to acquire assets from Rhodium Encore LLC for $185 million, which includes cash and shares, as part of a deal involving their Rockdale Facility. The transaction requires Bankruptcy Court approval and aims to consolidate power capacity for Riot's operations.
Stock Performance: Following the announcement, RIOT shares rose 4.03% to $8.27 in premarket trading, reflecting positive investor sentiment amidst ongoing developments in the cryptocurrency mining sector.
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Analyst Views on RIOT
Wall Street analysts forecast RIOT stock price to rise
16 Analyst Rating
16 Buy
0 Hold
0 Sell
Strong Buy
Current: 14.800
Low
20.00
Averages
27.19
High
42.00
Current: 14.800
Low
20.00
Averages
27.19
High
42.00
About RIOT
Riot Platforms, Inc. is a Bitcoin mining and digital infrastructure company. The Company has Bitcoin mining operations in central Texas and Kentucky, and electrical engineering and fabrication operations in Denver, Colorado, and Houston, Texas. It operates a Bitcoin-driven infrastructure platform. Its segments include Bitcoin Mining and Engineering. The Bitcoin Mining segment is engaged in Bitcoin mining activities. The Engineering segment designs and manufacturers power distribution equipment and custom engineered electrical products. This segment also provides electricity distribution product design, manufacturing, and installation services primarily focused on large-scale commercial and governmental customers and serves clients across a range of markets including data center, power generation, utility, water, industrial, and alternative energy. It is also focused on developing a portion of its power capacity for artificial intelligence (AI)/ high-performance computing (HPC) uses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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