Roth on Riot Platforms (RIOT): 'if costs were to double with the upcoming halving...adj. mining margin would sit near 50%'
Roth/MKM analyst Darren Aftahi raised the price target on Riot Platforms (NASDAQ: RIOT) to $25.50 (from $22.50) while maintaining a Buy rating.
The analyst comments "4Q reported results were mixed. RIOT announced ~2.7 EH/s of incremental expansion (5.9 EH/s total) from fleet upgrades and replacement, which increases the FY24/25 hash rate outlook and improves efficiency. RIOT’s liquidity of ~$908M should more than cover CapEx through 2025 to reach 40.8 EH/s (3x the current 12.4 EH/s). Using 4Q cost of ~$14K to mine, if costs were to double with the upcoming halving, at current BTC prices, adj. mining margin would sit near 50%. PT to $25.50 (from $22.50)."