AI-powered analytics recommended RIOT, resulting in a 20.71% ROI in just one week.
In today's digital age, the power of artificial intelligence (AI) in providing real-time analytics has revolutionized the world of investing. The use of AI-powered tools enables investors to analyze vast amounts of data, identify patterns and trends, and make informed decisions in real time. Recently, our AI-powered analytics recognized the potential of Riot Blockchain Inc. (RIOT), a leading player in the cryptocurrency industry, and recommended it to investors. This recommendation resulted in a remarkable 20.71% return on investment (ROI) in just one week, underscoring the value of AI in making informed and profitable investment decisions. Right now there, is a limited-time offer to try AI analytics with a no-obligation 7-day free trial for the Top 5 Starter Kit. Below you can see our signal for RIOT, which was the number 3 stock pick for the 7-day (weekly) projection on March 28th, 2023. The opening price on the date of the forecast was $7.92 and closed a week later at $9.56 making a rounded 21% profit for subscribers.
Artificial intelligence has revolutionized the way traders invest in the stock market. Our AI system proposes trading signals and tests them on extensive historical data, analyzing years of daily market trends. It then validates the signals on the most recent data, to ensure they are not overfitting or subject to randomness. By separating the predictable signals from stochastic noise, the AI develops a model that can forecast the trajectory of the market in a multi-dimensional space.
What a Riot!
Riot Blockchain Inc, with headquarters in Castle Rock, Colorado is a leading player in the cryptocurrency industry, with a strong focus on blockchain technology and a commitment to sustainable business practices. While the company faces ongoing challenges and uncertainties, its historical successes and strategic initiatives position it well for continued growth and success in the rapidly evolving cryptocurrency market. This company, founded in 2000, focuses on developing blockchain technology, a decentralized system that uses cryptography to secure data transactions. RIOT's operations include cryptocurrency mining, mining pool services, and the development of blockchain-based software.
RIOT operates in a highly dynamic market that is still in its infancy, with rapid changes and challenges, such as market volatility, regulatory compliance, and security concerns. RIOT has had notable success in the past, including a 2020 increase in stock value of over 1,000%, driven by a surge in cryptocurrency prices and investor interest. RIOT's 2021 earnings report showed an increase in mining revenue by 881% year-over-year, driven by the rising value of Bitcoin and other cryptocurrencies.
However, RIOT is not without challenges. Cryptocurrency mining requires significant amounts of energy, and the environmental impact of this energy consumption has been a concern for the industry as a whole. It has faced criticism for its energy consumption and environmental impact, as cryptocurrency mining requires large amounts of energy. Additionally, regulatory uncertainty and shifting market conditions pose ongoing challenges for RIOT and other cryptocurrency companies. Despite these challenges, RIOT has demonstrated a commitment to sustainable business practices and strategic growth. Its recent acquisition of Whinstone US, a data center development company, will enable RIOT to expand its mining operations and reduce its carbon footprint through the use of renewable energy. Whinstone US is a leading developer of data centers for cryptocurrency mining, with a strong focus on renewable energy sources such as wind and solar power. By acquiring Whinstone US, RIOT expanded its mining operations while reducing its carbon footprint through the use of renewable energy sources.
RIOT's acquisition of Whinstone US demonstrates its commitment to mitigating these concerns by incorporating sustainable energy practices into its operations. The use of renewable energy not only reduces the company's carbon footprint but also provides a competitive advantage by reducing energy costs and improving efficiency.
RIOT Financial Analysis
Riot Blockchain Inc. (RIOT) recently released its fiscal year 2022 financial and operational highlights, revealing a total revenue of $259.2 million, a 22% increase from the previous year, driven by higher Bitcoin production and a full year of Data Center Hosting and Engineering revenues.
“This was a remarkable year of growth for Riot, as we more than tripled our hash rate capacity, leading to numerous monthly production records, and finished the year at an all-time high of 9.7 EH/s in hash rate capacity, which is a testament to the hard work our best-in-class team has put in throughout 2022. Three new buildings at our Rockdale Facility were completed in 2022, and a fourth is nearing completion in Q1 2023 which, when completed, will finalize our Rockdale Facility expansion. Meanwhile, our additional growth plans continue to progress, with development at our Corsicana Facility, where we broke ground in mid-2022, and are on track for energization in the fourth quarter of 2023.”
The company earned $27.3 million in power credits by supporting the ERCOT grid in Texas during several weather-related supply/demand issues in 2022, which equated to approximately 1,815 Bitcoin. RIOT produced 5,554 Bitcoin, a 46% increase from the previous year, despite suspending Bitcoin production while receiving significant benefits from power credits earned. While the company reported a net loss of $509.6 million, it maintained an industry-leading financial position with $321.8 million in working capital, including $230.3 million in cash on hand, no long-term debt, and 6,974 Bitcoin produced by the company’s self-mining operations as of December 31, 2022. RIOT's hash rate capacity increased by 213% to 9.7 exahash per second as of December 31, 2022, compared to 3.1 EH/s as of December 31, 2021.
According to the company's press release updating on their Bitcoin production and operations for February 2023. The company has reported a significant increase in production, with 675 BTC produced during this period. This figure represents a notable rise of approximately 55% compared to the same period last year, during which 436 BTC were produced. The company currently holds approximately 7,058 BTC as of February 28, 2023, all of which were produced by the company’s self-mining operations. Furthermore, Riot sold 600 BTC during this period, generating net proceeds of approximately $14.2 million.
Riot has a deployed fleet of 87,264 miners, with a hash rate capacity of 9.8 exahash per second (“EH/s”), as of February 28, 2023. This figure excludes 17,040 miners that are currently offline due to damage caused by severe winter weather in Texas in late December. During February, Riot deployed 4,608 S19-series miners and ended the month with approximately 2,304 miners staged for deployment. Upon deployment of the staged miners, the company is expected to have a total of 89,568 miners deployed with a hash rate capacity of approximately 10.1 EH/s (excluding the 17,040 miners that are currently offline in Building G).
Riot's construction team is continuing to install wall louvers and water frames in Building E. Electrical teams are also conducting electrical testing and deploying miners. The company expects the full completion of Building E by early Q2 2023. Meanwhile, efforts in Buildings F and G are focused on restoring the damage done to the dry-cooling systems by the winter storm in Texas. Building F was brought back online earlier this year and is expected to return to full operational capacity in early Q2 2023. In Building G, repairs are currently being implemented, and several dry coolers are being replaced. The company anticipates that these measures will enable them to restore full operational capacity in the second half of 2023.
Riot Blockchain, Inc.'s increased production and operations updates indicate that the company is well-positioned to take advantage of the growing Bitcoin market. With a large fleet of miners and an expected increase in hash rate capacity, Riot is in a strong position to continue generating impressive results. Furthermore, the company's ongoing efforts to restore damaged facilities demonstrate its commitment to maximizing production and ensuring the long-term success of the company. Investors and industry analysts should keep a close eye on Riot's future updates to stay informed on the company's progress in this dynamic market.
AI-Powered Predictive Analytics: RIOT
The use of AI in trading has significantly increased efficiency in the investment process and has given traders access to new insights, improving their decision-making abilities. With the proliferation of big data and technological advancements in AI, the accuracy and reliability of these models have improved significantly. As a result, many investors are turning to AI-based trading systems to supplement traditional market research methods. Our AI analytics dashboard also includes advanced charting with every technical indicator available and fundamental market research tools to aid investors' stock research.
One of the main advantages of using growthtech.ai’s artificial intelligence stock predictive software for stock analysis is its ability to objectively study a large number of assets throughout the day. When combined with machine learning, these incredibly intricate mathematical functions for statistical programming and modeling are capable of comparing their current coefficients and algorithms to newly added data and then adapting to improve the models' accuracy through a process of validation and reflection. By integrating big data analytics with our AI prediction system, we can enhance decision-making, forecasting, result modeling, and market understanding.
The benefits growthtech.ai subscribers take advantage of include:
1. Increased accuracy: AI algorithms can process vast amounts of data quickly and accurately, which can lead to more accurate predictions and better decision-making.
2. Faster decision-making: Since AI algorithms can process large amounts of data much faster than humans, they can help investors make informed decisions in real time.
3. Objective analysis: AI algorithms can analyze data objectively and without biases, which can lead to more objective investment decisions.
4. Risk management: AI can help identify potential risks in investments and portfolios, allowing investors to manage risks more effectively.
5. Improved efficiency: AI can automate many tasks involved in stock market analysis, such as data collection and analysis, freeing up time for investors to focus on other tasks.
6. Adaptability: AI algorithms can adapt to changing market conditions and adjust their predictions accordingly, which can lead to more accurate and relevant insights.
Not only does the growthtech.ai analytics give you stock recommendations based on artificial intelligence but it also gives you Signal Confidence (SC) to help you discern the likelihood of a stock prediction being successful. The AI-generated signal is a numerical representation of the predicted trend and is utilized by traders to identify optimal entry and exit points in the market. In this stock prediction, the Signal Confidence is 37%. We encourage our users to use the shorter terms projections to help identify trends but also recognize the increased risk associated with shorter-term trading. Though AI analytics can be used for short-term trading, the Signal Confidence of the model becomes stronger over longer time frames, making it ideal for value-based investing.
Overall, AI trading signals are an innovative tool that has transformed the investment landscape and offers a competitive edge to investors who can effectively harness their power. However, it is essential to note that these systems still require proper human oversight to prevent errors or system failures, meaning that your own due diligence is still required. These signals should not be used as your sole discretionary decision-making factor, but as an effective tool to drastically reduce the time it takes for you to find new market opportunities. So for example, here the AI is recommending RIOT, and now you would do your own due diligence to come to your own conclusions based on your own personal considerations. Remember that you should always consult a licensed financial advisor before making any investment decisions.
Enhanced Market Intelligence
Finding market opportunities is made easier by using our AI system. It doesn't tell you what to do. It tells you where to look. Our skilled team of analysts carefully verifies the AI outputs and enhances this market research with a human touch, providing our subscribers with enhanced market intelligence. If you would like the AI advantage working for you, then you should subscribe today!
Life is better when you can be bullish.
Sources: 1. Riot Platforms Investor Relations, "RIOT REPORTS FULL YEAR 2022 FINANCIAL RESULTS, CURRENT OPERATIONAL AND FINANCIAL HIGHLIGHTS"(2023)
2. Riot Platforms Investor Relations, "RIOT ANNOUNCES FEBRUARY 2023 PRODUCTION AND OPERATIONS UPDATES" (2023)
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