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International Business Times

Business

Marvie Basilan

Kerrisdale Shorts Riot Platforms, Says Bitcoin Miner 'Headed For A Mine Collapse'

Riot Kerrisdale Bitcoin Riot Platforms Mining Kerrisdale Capital Bitfarms Crypto

Riot Platforms and its subsidiaries operate as a Bitcoin mining company. (Credit: Riot Platforms Twitter Video/Screenshot)

KEY POINTS

The short seller said Riot's 'honeymoon' phase with Texas as a suitable crypto mining hub is over
It also said Riot is a 'fundamentally poor way' for investors to express their views on Bitcoin
Kerrisdale previously went short on MicroStrategy, which holds 214,000 Bitcoin

Short seller Kerrisdale Capital has released a highly critical report on Bitcoin mining and digital infrastructure company Riot Platforms, saying it is "headed for a mine collapse" due to its BTC strategy.

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