B. Riley lowered the firm’s price target on Riot Platforms to $16 from $17 and keeps a Buy rating on the shares. The analyst says the company’s relatively flat month-over-month bitcoin production was attributable to mostly unchanged average operational hash rate of 8.6 EH/s in March, compared to 8.5 EH/s in February, and approximately the same level of curtailment activity for power sales. The firm cites lower bitcoin production in Q1 and delayed energization of building A1 at Corsicana for the target drop.
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