$Riot Platforms (RIOT.US)$ any hope for this stock?
$Riot Platforms (RIOT.US)$ any hope for this stock?
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egan1 : nope
Censorship here : Will see 50s by February imo nfa
AR518 OP Censorship here : why?
Censorship here AR518 OP : Because bitcoin will of pushed over 100k by then and riot keeps improving hash rate
egan1 Censorship here : it costs riot $160K to mine a Bitcoin. everyone is increasing hashrate making the market insanely competitive which you can see in the difficulty chart. block rewards just got cut in 1/2. plus they've increased shares outstanding by 37.63% in the last year alone.
Censorship here egan1 : Where the f u getting your information it cost riot 25k to mine a bitcoin . All miners diluted shares to improve software.
egan1 Censorship here : that's just their direct costs my man, once you factor in depreciation (they have a ton, miners depreciate at about 25% per year), corporate overhead and the fact their advertised hashrate is way overblown bc of their agreement with the power company to not mine during times of high electricity demand. you get a number close to $160k. just because all miners dilute shareholders doesn't mean it's good.
egan1 egan1 : you need a 38% higher share price today to have the same market cap as a year ago.
Censorship here egan1 : High over head I don’t disagree but your numbers of 160k is way off. Bitcoin hits 100k this flys just like every other miner will . Best part about the world is put your money where your mouth is and I’ll hold my shares of riot and Mara and cleanspark you don’t like them don’t own it . But imo riot is under valued.
egan1 Censorship here : I'm getting my numbers from their income statement and my calculator.
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