12 Most Shorted Stocks in 2025

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

Number of Hedge Fund Holders: 38

Short % of Shares Outstanding (as of February 28): ~22.4%

Riot Platforms, Inc. (NASDAQ:RIOT) is a Bitcoin mining company in the US. Gregory Lewis, an analyst from BTIG, maintained a “Buy” rating on the company’s stock and the associated price target was $22.00. The analyst’s rating is backed by a combination of factors highlighting the company’s promising financial outlook. Moving forward, the expected increases in Bitcoin prices and strategic growth initiatives, such as expansion at Corsicana and integration of a newly-acquired engineering business, are expected to aid its revenues. Such measures can enhance Riot Platforms, Inc. (NASDAQ:RIOT)’s operational efficiency and capacity, resulting in strong financial performance.

Notably, 2024 saw major growth initiatives, which include the energization of its Corsicana Facility, and the acquisitions of Block Mining and E4A Solutions, which is a leading electrical engineering services company complementing its Engineering business and Bitcoin mining operations. Riot Platforms, Inc. (NASDAQ:RIOT)’s exploration of AI/HPC opportunities at its Corsicana site demonstrates a potentially transformative move, which can create new revenue streams and diversify Riot Platforms, Inc. (NASDAQ:RIOT)’s business model over and above the Bitcoin mining. The shift can attract a new class of investors and partners, mainly as demand for AI and high-performance computing infrastructure has been increasing. The growth initiatives, together with its significantly improved operating performance, led to the mining of 4,828 Bitcoins during FY 2024, at an average direct cost of $32,216 per coin.