Riot Platforms Powers Up: Analyst Gives 4 Reasons Why He Is Bullish

Needham analyst John Todaro reiterated the Buy rating on Riot Platforms, Inc. RIOT on Friday, lowering the price forecast from $13.50 to$12.On Thursday, the company reported first quarter results, in which total revenue was up from $79.3 million in the prior year's quarter, primarily driven by a$71.5 million increase in Bitcoin mining revenue.The Bitcoin miner produced 1,530 Bitcoin in the first quarter, up from 1,364 in the first quarter of 2024. Riot's average cost to mine totaled $43,808 in the quarter ...