Bitcoin Miner Riot Platforms (RIOT) Falls After Being Targeted by Short-Seller Kerrisdale

“Like other US listed miners, $RIOT’s biz model is a dysfunctional hamster wheel of cash burn, which is why it loots retail shareholders with non-stop ATM issuance to fund operations. Even with $BTC near all-time highs, post-halving $RIOT’s mining ops aren’t profitable,” the firm said in a social media post on X (formerly Twitter).