Riot Platforms Q1 earnings buoyed by higher bitcoin prices

seekingalpha05-01

Riot Platforms (NASDAQ:RIOT) achieved record quarterly earnings in Q1 2024 as the benefit of higher bitcoin (BTC-USD) prices helped to offset lower bitcoin production and higher mining costs. Q1 EPS ...

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Q1 EPS ...</p>\n\n<a href=\"https://seekingalpha.com/news/4097316-riot-platforms-q1-earnings-buoyed-by-higher-bitcoin-prices\">Source Link</a>\n\n</div>\n","source":"seekingalpha_crypto","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Riot Platforms Q1 earnings buoyed by higher bitcoin prices</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRiot Platforms Q1 earnings buoyed by higher bitcoin prices\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-01 21:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4097316-riot-platforms-q1-earnings-buoyed-by-higher-bitcoin-prices><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Riot Platforms (NASDAQ:RIOT) achieved record quarterly earnings in Q1 2024 as the benefit of higher bitcoin (BTC-USD) prices helped to offset lower bitcoin production and higher mining costs. Q1 EPS ...</p>\n\n<a href=\"https://seekingalpha.com/news/4097316-riot-platforms-q1-earnings-buoyed-by-higher-bitcoin-prices\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RIOT","symbol_name":"Riot Platforms","start_time":0,"source_url":"https://seekingalpha.com/news/4097316-riot-platforms-q1-earnings-buoyed-by-higher-bitcoin-prices","article_id":"2432296572","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/916553110/image_916553110.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432296572","pubTimestamp":1714570395,"sourceInfo":{"source_id":"seekingalpha_crypto","name":"Seeking Alpha Cypto"},"weMediaInfo":null,"summary":"Riot Platforms (NASDAQ:RIOT) achieved record quarterly earnings in Q1 2024 as the benefit of higher bitcoin (BTC-USD) prices helped to offset lower bitcoin production and higher mining costs. Q1 EPS o","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"RIOT":"Riot Platforms"},"translate_title":"比特币价格上涨提振防暴平台Q1收益","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RIOT":1},"content_text":"Riot Platforms (NASDAQ:RIOT) achieved record quarterly earnings in Q1 2024 as the benefit of higher bitcoin (BTC-USD) prices helped to offset lower bitcoin production and higher mining costs. Q1 EPS of $0.82, which may not be comparable to the -$0.21 consensus, jumped from -$0.28 in the previous quarter and $0.11 a year ago. Total revenue of $79.3M, falling short of the $95.5M average analyst estimate, dropped from $280.7M in Q4 2023 and rose from $73.2M in Q1 2023. The Y/Y increase reflected a 131% jump in bitcoin (BTC-USD) prices, partially offset by lower bitcoin production. During the quarter, the miner generated 1,364 bitcoin (BTC-USD), a decrease of 36% from the 2,115 bitcoin produced during the three months ended March 31, 2023, due primarily to the significant increase in the bitcoin network difficulty, which has more than doubled since January 2023. What's more, the average cost to mine bitcoin (BTC-USD) surged to $23,034 from $9,438 in the year-earlier period, driven by an 89% increase in global network hash rate. Adjusted EBITDA of $245.7M advanced from $214.0M in Q4 2023 and $81.7M in Q1 of last year. Riot (RIOT) earned $5.1M in power curtailment credits during Q1, compared with $3.1M in power curtailment credits earned a year before. 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