Core Insights - Riot Platforms, Inc. reported a record net income of $219.5 million and adjusted EBITDA of $495.3 million for Q2 2025, driven by strong Bitcoin prices and operational efficiencies [2][5]. Financial Performance - Total revenue for Q2 2025 reached $153.0 million, a significant increase from $70.0 million in Q2 2024, primarily due to an $85.1 million rise in Bitcoin mining revenue [5]. - The company produced 1,426 bitcoins in Q2 2025, up from 844 bitcoins in the same period last year [5]. - The average cost to mine one bitcoin, excluding depreciation, was $48,992 in Q2 2025, compared to $25,329 in Q2 2024, influenced by the block subsidy halving and a 45% increase in the global network hash rate [5][17]. Operational Highlights - Bitcoin mining revenue for the quarter was $140.9 million, up from $55.8 million in Q2 2024, attributed to higher average Bitcoin prices and increased operational hash rate [5]. - Engineering revenue increased to $10.6 million from $9.6 million year-over-year, benefiting from $18.5 million in capital expenditure savings since the acquisition of ESS Metron in December 2021 [5][6]. Strategic Positioning - The company emphasizes its strong capabilities in power procurement, Bitcoin mining, and infrastructure engineering, positioning itself to maximize shareholder value [3]. - Riot's strategy focuses on optimizing its power portfolio and shifting capacity towards high-value data centers, supported by recent key hires [3]. Balance Sheet Strength - Riot maintained a robust financial position with $141.1 million in working capital, including $255.4 million in unrestricted cash and $62.5 million in marketable equity securities [10]. - The company held 19,273 bitcoins, valued at approximately $2.1 billion based on a market price of $107,174 per bitcoin as of June 30, 2025 [10].

Bitcoin Holdings Ranking - MicroStrategy holds the largest amount of Bitcoin among public companies, with 607700 BTC [1] - MARA Holdings ranks second with 50000 BTC [1] - XXI holds 37200 BTC [1] - Riot Platforms possesses 19200 BTC [1] - Trump Media & Technology Group holds 18400 BTC [1] - Metaplanet holds 16300 BTC [1] - Galaxy Digital Holdings holds 12800 BTC [1] - CleanSpark holds 12600 BTC [1] - Tesla holds 11500 BTC [1] - Hut 8 Mining Corp holds 10200 BTC [1]

Core Insights - Riot Platforms, Inc. (RIOT) is set to report its second-quarter 2025 results on July 31, with a history of disappointing earnings surprises, having only surpassed estimates once in the last four quarters, resulting in an average negative surprise of 60.6% [1][4]. Group 1: Q2 Expectations - The Zacks Consensus Estimate for RIOT's revenues is $152.8 million, indicating over 100% year-over-year growth [2][9]. - The increase in Bitcoin prices by 17.8% over the past six months is expected to positively impact revenues, alongside contributions from the Corsicana Facility and E4A Solutions acquisition [2][9]. - The anticipated loss per share is 19 cents, a significant improvement from the 32 cents per share loss reported last year, attributed to enhanced efficiency from the acquisition of Rhodium mining operations [3][9]. Group 2: Earnings Prediction Model - The current model does not predict an earnings beat for RIOT, as it holds an Earnings ESP of +21.05% but a Zacks Rank of 4 (Sell), which diminishes the likelihood of a positive earnings surprise [4].

Core Viewpoint - The market anticipates Riot Platforms, Inc. (RIOT) to report a year-over-year increase in earnings and revenues for the quarter ended June 2025, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - The consensus EPS estimate for Riot Platforms is $0.09 per share, reflecting a year-over-year increase of +128.1% [3]. - Expected revenues are $152.75 million, which is an increase of +118.2% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised up by 230.12% over the last 30 days, indicating a significant reassessment by analysts [4]. - The Most Accurate Estimate for Riot Platforms is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +240.91% [12]. Earnings Surprise Prediction - A positive Earnings ESP reading suggests a potential earnings beat, especially when combined with a strong Zacks Rank [10]. - However, Riot Platforms currently holds a Zacks Rank of 4, which complicates the prediction of an earnings beat despite the positive Earnings ESP [12]. Historical Performance - In the last reported quarter, Riot Platforms was expected to post a loss of $0.25 per share but instead reported a loss of -$0.90, resulting in a surprise of -260.00% [13]. - Over the past four quarters, the company has only beaten consensus EPS estimates once [14]. Industry Comparison - SoFi Technologies, Inc. (SOFI), another player in the financial services industry, is expected to report an EPS of $0.06 for the same quarter, indicating a year-over-year change of +500% [18]. - SoFi's expected revenues are $805.44 million, up 34.9% from the previous year, with an unchanged consensus EPS estimate over the last 30 days [19].

Core Insights - Strategy (MSTR) and Riot Platforms (RIOT) are prominent Bitcoin-focused stocks, with MSTR being the largest bitcoin treasury company holding 607,770 bitcoins as of July 20, 2025, while RIOT provides infrastructure for Bitcoin mining [1][9]. Bitcoin Market Overview - Bitcoin has seen significant price increases, surpassing $120,000, driven by greater acceptance as a non-sovereign asset and increased institutional and corporate adoption [2]. - The passing of the GENIUS Act on July 17 has positively impacted digital assets by providing a legal framework for stablecoins, which must maintain a value equivalent to $1 [3]. - U.S. President Donald Trump's liberal policies and executive orders aimed at studying cryptocurrency regulations have further supported the growth of Bitcoin and related stocks [4]. Company Performance and Strategy - MSTR is on track to achieve a bitcoin yield of 25% and has raised its bitcoin dollar gain target to $15 billion, up from $10 billion [5]. - MSTR has raised $6.6 billion through equity offerings and $3.4 billion through fixed income, with plans to raise an additional $84 billion by the end of 2027 [6][7]. - MSTR is also benefiting from growing software subscription revenues and leveraging generative AI for application deployment across various industries [8]. Riot Platforms' Operations - RIOT is a vertically-integrated Bitcoin mining company, producing 1,530 Bitcoin in Q1 2025 with an uptime of over 88% and targeting a 22% hash rate growth in 2025 [9][10]. - RIOT plans to invest $155.8 million in developing its Corsicana Phase II project and is exploring the use of its power capacity for AI and High-Performance Computing [9]. - The company has seen an 8% sequential increase in Bitcoin holdings, totaling 19,223 Bitcoin as of March 31, 2025 [10]. Financial Estimates and Stock Performance - MSTR's 2025 loss estimate remains at $15.73 per share, while RIOT's estimate has improved to $1.44 per share [12][13]. - Year-to-date, MSTR shares have appreciated by 47.2%, while RIOT shares have returned 37.3% [14]. - MSTR is trading at a Price/Book ratio of 3.63X, compared to RIOT's 1.7X, indicating that RIOT is cheaper than MSTR [17][18]. Conclusion - MSTR's strategy of holding Bitcoin on its balance sheet provides a competitive edge, while RIOT's reliance on Bitcoin makes it riskier due to volatility [21]. - MSTR's diversified business model offers some investor relief, with MSTR holding a Zacks Rank of 3 (Hold) and RIOT at 4 (Sell) [21].

Core Insights - The article emphasizes that true wealth in the cryptocurrency market, particularly Bitcoin, is generated not by holding Bitcoin itself but by investing in companies that facilitate its availability, such as miners and refiners [2][3]. Company Analysis - Cleanspark Inc. is highlighted as offering the deepest discount to its 52-week high prices, presenting a significant opportunity for investors as Bitcoin prices rise [4]. - Cleanspark's stock forecast indicates a potential upside of 59.43%, with a 12-month price target of $20.38 based on analyst ratings [5]. - Institutional investors, like Vanguard Group, have increased their holdings in Cleanspark by 22.8%, indicating confidence in the company's future performance [7]. - Riot Platforms is also noted for its potential, with a 12-month stock price forecast of $17.35, suggesting a 25.18% upside [11]. - Riot Platforms has reported a net loss per share of $0.90, but forecasts predict improvement, which could lead to higher stock prices [12]. - Marathon Digital Holdings, with a market cap of $4.9 billion, is attracting more institutional interest and has a stock forecast of $20.94, indicating a 7.35% upside [14][16]. Market Trends - The article draws parallels between the current cryptocurrency market and historical commodity booms, suggesting that investing in the infrastructure supporting these assets can yield greater returns than the assets themselves [1][2]. - The smaller market capitalization of companies like Cleanspark and Riot Platforms limits their media exposure, which may present hidden opportunities for investors [10].

Core Viewpoint - Riot Platforms, Inc. is set to hold its second quarter 2025 earnings conference call on July 31, 2025, to discuss the financial results for the quarter ending June 30, 2025 [1] Company Overview - Riot Platforms, Inc. aims to be the leading Bitcoin-driven infrastructure platform, focusing on innovative solutions and community partnerships to achieve best-in-class execution [3] - The company operates Bitcoin mining facilities in central Texas and Kentucky, along with electrical engineering and fabrication operations in Denver, Colorado, and Houston, Texas [4] Conference Call Details - The earnings conference call will be accessible via an audio-only webcast, with registration links provided for participants in the United States and internationally [2]

Core Insights - The individual has retired after over 43 years in investment research, now operating independently to provide actionable investment insights [1] - The focus is on rules and factor-based equity investing strategies, emphasizing the use of numbers to inspire human intelligence-driven investment stories rather than solely relying on statistical studies [1] - The individual combines factor analysis with classic fundamental analysis to uncover the true story of companies and their stocks, highlighting the importance of future potential over past performance [1] Experience and Background - The individual has extensive experience covering a wide range of stocks, including large cap, small cap, micro cap, value, growth, and income [1] - Previous roles include managing a high-yield fixed-income fund and conducting research on quantitative asset allocation strategies, contributing to the development of Robo Advising [1] - The individual has authored two books on stock selection and analysis and has a passion for investor education, having conducted numerous seminars [1]

Group 1 - Riot Platforms (NASDAQ: RIOT) has gained significant traction in recent weeks, indicating a positive market sentiment towards the company [1] - An article published on May 5 provided a Hold rating for RIOT, suggesting a cautious approach for existing shareholders [1] - The author expresses a long-term investment strategy focused on identifying great businesses at reasonable prices, with a particular interest in technology and crypto sectors [1] Group 2 - The article reflects a personal opinion of the author, who holds a beneficial long position in RIOT shares through various financial instruments [1]

Bitcoin miner Riot Platforms produces 450 BTC, valued at $49.3 million, in June https://t.co/XX23tq7jrk ...