Sunday, May 18, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

Short-Seller Kerrisdale Targets Riot Crypto Miner’s ‘Flawed’ Model

June 5, 2024
in Ethereum
Reading Time: 2 mins read
0 0
A A
0
Home Ethereum
Share on FacebookShare on TwitterShare on E Mail


Kerrisdale Capital Administration LLC, identified for its short-selling methods, has set its sights on Riot Blockchain Inc., criticizing its enterprise mannequin as flawed within the difficult panorama of Bitcoin mining. In accordance with Kerrisdale, investing in Bitcoin instantly is a extra viable possibility for cryptocurrency fanatics than buying miner shares.

The report launched by Kerrisdale founder Sahm Adrangi highlighted Riot’s shareholder dilution because of the firm’s stock-selling practices. Moreover, Adrangi’s letters to Texas authorities officers raised issues about Riot’s power utilization practices and its affect on the state’s power legal guidelines.

Shares of Riot, primarily based in Citadel Rock, Colorado, skilled a decline of as much as 8.9% following the publication of Kerrisdale’s report. The corporate has but to reply to requests for remark from Bloomberg Information.

Adrangi emphasised that Bitcoin mining is a extremely aggressive commodity enterprise with minimal limitations to entry, notably as new mining initiatives emerge globally. He argued that the present valuations of Bitcoin miners don’t justify funding, particularly contemplating the provision of low-fee exchange-traded funds for buyers searching for publicity to Bitcoin.

This isn’t the primary time Kerrisdale has focused firms with publicity to cryptocurrencies. In March, the agency advisable a pair commerce involving shorting MicroStrategy Inc. whereas taking a protracted Bitcoin place, a technique that has confirmed profitable up to now.

Nonetheless, there are potential dangers related to shorting Bitcoin miners, as demonstrated by Core Scientific Inc.’s latest surge in inventory value following information of long-term contracts and acquisition affords. Regardless of the challenges highlighted by Kerrisdale, the dynamic nature of the cryptocurrency market leaves room for miners to adapt their enterprise fashions and entice buyers or strategic consumers.

Featured Picture: Freepik

Please See Disclaimer



Source link

Tags: cryptoFlawedKerrisdaleMinersModelRiotShortSellerTargets
Previous Post

Bitfinex Rolls Out Version 1.97 with TradingView Update and Key Bug Fixes

Next Post

Bitcoin Records Winning Streak Since March Amid Rate-Cut Bets

Related Posts

Ethereum’s Price Explodes 97%, Hits $2,743 – Here’s The Next Target
Ethereum

Ethereum’s Price Explodes 97%, Hits $2,743 – Here’s The Next Target

May 18, 2025
Ethereum Headed For Crucial Encounter At $4,000 – Here’s Why
Ethereum

Ethereum Headed For Crucial Encounter At $4,000 – Here’s Why

May 18, 2025
Ethereum Multi-Year Consolidation Could Spark A Parabolic Move – Details
Ethereum

Ethereum Multi-Year Consolidation Could Spark A Parabolic Move – Details

May 17, 2025
Over 26,000 Ethereum wallets integrate Pectra upgrade features driving smart wallet adoption
Ethereum

Over 26,000 Ethereum wallets integrate Pectra upgrade features driving smart wallet adoption

May 16, 2025
Binance’s Ethereum Reserves Drop By Nearly 300,000 ETH In A Month – Is A Massive Rally Coming?
Ethereum

Binance’s Ethereum Reserves Drop By Nearly 300,000 ETH In A Month – Is A Massive Rally Coming?

May 17, 2025
DOJ to press on with criminal charges against Tornado Cash developer Roman Storm
Ethereum

DOJ to press on with criminal charges against Tornado Cash developer Roman Storm

May 18, 2025
Next Post
Bitcoin Records Winning Streak Since March Amid Rate-Cut Bets

Bitcoin Records Winning Streak Since March Amid Rate-Cut Bets

SNXweave Weekly Recap 140

SNXweave Weekly Recap 140

10 Steps to Self-Sovereignty with Bitcoin

10 Steps to Self-Sovereignty with Bitcoin

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In