12 Best Bitcoin Stocks To Buy According To Billionaires

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9. Riot Platforms, Inc. (NASDAQ:RIOT)

Number of Billionaire Investors: 5

Ranked 9th on our list of the best Bitcoin stocks, Riot Platforms, Inc. (NASDAQ:RIOT) is an American Bitcoin mining firm operating under two segments – Bitcoin Mining and Engineering. It provides large-scale, critical infrastructure for institutional Bitcoin mining. The company runs bitcoin mining data centers in central Texas and Kentucky, as well as engineering and manufacturing facilities in Denver, Colorado.

On February 13, Riot Platforms, Inc. (NASDAQ:RIOT) announced that it is exploring opportunities in artificial intelligence and high performance computing. To support this shift, the company has appointed three new board members to assess the potential for repurposing its available capacity.

In 2024, Riot Platforms, Inc. (NASDAQ:RIOT) generated $376.7 million in total revenue, marking a 34% increase from the $280.7 million reported in 2023. This growth was mainly driven by higher bitcoin prices. The company’s gross profit for the year reached $147.6 million, up from $97.6 million in the previous year. Throughout 2024, Riot added over 10,000 Bitcoins to its holdings, ending the year with a total of 17,722 bitcoins. Based on Bitcoin’s December 31st price of $93,354, this amounted to a valuation of $1.7 billion.

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