Riot has the financial capacity to consolidate the bitcoin mining space, the report said.
The broker said it expects the U.S. bitcoin mining space to consolidate to around five large players.
Bernstein said the larger miners should ramp up their M&A game to maintain strategic relevance.
Riot Platforms (RIOT) is the most ambitious bitcoin (BTC) miner to attempt to consolidate the sector, and the company has a desire to build the world’s largest publicly listed mining company, broker Bernstein said in a research report on Tuesday.
The Colorado-based company has the financial capacity to consolidate the mining space as it has no debt and more than $1.3 billion of cash and bitcoin on its balance sheet, the report said.
Riot is trying to acquire rival bitcoin miner Bitfarms (BITF), after buying a 9.25% stake in the company. The miner has offered to buy all the outstanding shares in BITF for $2.30, the company said on Tuesday.
“The bitcoin mining business is becoming tougher for smaller players, with limited capital to ramp up on the global hash power race,” analysts Gautam Chhugani and Mahika Sapra wrote.
Bernstein says it expects the bitcoin mining sector in the U.S. to consolidate to about five large players who will control substantial capacity. It noted that there are more than 20 publicly listed miners at present.
“If power becomes the biggest constraint to scale up artificial intelligence (AI) computation, we see bitcoin miners as a strategic asset controlling power, land and with significant operating capabilities in running data centers,” the authors wrote.
The broker notes that smaller miners are seeing competitive interest from AI data centers that are looking to buy sites. The largest bitcoin miners should ramp up their M&A plans to maintain “long-term strategic relevance,” the report noted.
Bernstein has an outperform rating on Riot shares and a $22 price target. At the time of writing, the shares were trading around $10.30.
Read more: Riot Plans Hostile Takeover of Bitfarms; Proposes $2.30 Per Share
clomiphene price buy clomiphene where can i get clomiphene without prescription can you get generic clomiphene for sale can you get cheap clomiphene pills get clomid online cost generic clomid for sale
This website positively has all of the bumf and facts I needed about this thesis and didn’t know who to ask.
More peace pieces like this would make the интернет better.
oral zithromax 500mg – buy ciplox 500 mg sale purchase flagyl online
buy rybelsus 14 mg for sale – purchase periactin pill order cyproheptadine generic
order domperidone 10mg sale – buy tetracycline 250mg pill cyclobenzaprine sale
order amoxil online – buy cheap generic diovan buy combivent pills for sale
buy azithromycin 250mg generic – buy tindamax 500mg without prescription buy bystolic 20mg online cheap
order augmentin 1000mg online cheap – https://atbioinfo.com/ buy ampicillin generic
order esomeprazole online cheap – https://anexamate.com/ order nexium pill
buy warfarin 2mg for sale – https://coumamide.com/ buy generic losartan
buy cheap generic meloxicam – https://moboxsin.com/ mobic buy online
order prednisone 20mg online cheap – apreplson.com buy prednisone online cheap
buy best erectile dysfunction pills – fast ed to take buy ed pills best price
purchase amoxicillin sale – how to get amoxicillin without a prescription amoxicillin cost
order lexapro 20mg generic – lexapro 20mg price order escitalopram 20mg for sale
cialis generic overnite shipping – https://ciltadgn.com/ cialis dosage for bph
difference between tadalafil and sildenafil – strong tadafl brand cialis australia
Good blog you procure here.. It’s severely to on great calibre article like yours these days. I justifiably recognize individuals like you! Rent care!! https://buyfastonl.com/azithromycin.html
I’ll certainly bring to read more. https://ursxdol.com/get-cialis-professional/
I am actually enchant‚e ‘ to gleam at this blog posts which consists of tons of worthwhile facts, thanks object of providing such data. https://prohnrg.com/product/loratadine-10-mg-tablets/
I’ll certainly carry back to skim more. https://ondactone.com/spironolactone/