New York City-based OnyxPoint Global Management initiated a position in Riot Platforms, buying up 232,206 shares during the third quarter.
The shares were worth about $4.42 as of September 30.
The Riot Platforms position is not among the fund’s top five holdings.
On November 14, New York City-based OnyxPoint Global Management disclosed a new stake in Riot Platforms (NASDAQ:RIOT), acquiring 232,206 shares for an estimated $4.42 million position during the third quarter.
OnyxPoint Global Management LP reported a new position in Riot Platforms (NASDAQ:RIOT), purchasing 232,206 shares with a market value of $4.42 million as of September 30, according to a filing with the Securities and Exchange Commission published November 14. The stake represents 2.38% of the fund’s $185.59 million in reportable U.S. equity holdings across eight positions.
Top five holdings after the filing:
As of Tuesday, RIOT shares were priced at $13.20, up about 26% over the past year and well outperforming the S&P 500, which is instead up about 17%.
| Metric | Value |
|---|---|
| Revenue (TTM) | $637.16 million |
| Net Income (TTM) | $164.00 million |
| Price (as of Tuesday) | $13.20 |
| One-Year Price Change | 26% |
Riot Platforms, Inc. is a leading U.S.-based Bitcoin mining company with vertically integrated operations, including infrastructure design and power distribution manufacturing. The company leverages large-scale mining facilities in Texas and Kentucky to maintain cost efficiency and operational scale. Riot’s strategic focus on infrastructure and engineering services provides diversification and a competitive edge in the rapidly evolving digital asset ecosystem.
After years of being treated as a pure Bitcoin proxy, Riot Platforms is starting to show what institutional investors actually want to see: operating scale, balance sheet strength, and optionality beyond the coin price.
In the third quarter, Riot posted record revenue of $180.2 million and net income of $104.5 million, a sharp reversal from last year’s $154.4 million loss in the same period. Adjusted EBITDA reached $197.2 million, helped by higher Bitcoin prices but also by genuine operating leverage. The company, meanwhile, mined 1,406 bitcoin during the quarter at an average cash cost of $46,324 per coin, while power curtailment credits meaningfully offset energy costs. That cost discipline matters in a business where margins can evaporate quickly.
Just as important, Riot ended the quarter holding 19,287 bitcoin worth roughly $2.2 billion, alongside $330.7 million in unrestricted cash. That financial flexibility is rare in the sector and increasingly valuable as Riot pivots toward large-scale data center development. Management has already begun construction on 112 megawatts of capacity at its Corsicana campus, signaling ambitions well beyond mining. Within OnyxPoint’s portfolio, this is a modest position, but it fits a pattern of concentrated exposure to energy and infrastructure-adjacent assets with asymmetric upside.
Assets under management (AUM): The total market value of investments managed by a fund or investment firm.
Reportable assets: Investments that a fund is required to disclose in regulatory filings, typically U.S. equity holdings.
Stake: The amount of ownership or investment a fund holds in a particular company.
Position: The quantity of a security or asset held in a portfolio.
Top five holdings: The five largest investments in a fund’s portfolio, ranked by value.
Institutional-scale: Designed to meet the needs of large organizations, such as investment funds or corporations.
Vertically integrated: A company that controls multiple stages of its supply chain or production process.
Power distribution equipment: Hardware used to manage and deliver electricity within large facilities or operations.
Custom engineered electrical products: Specialized electrical components designed and built to meet specific client requirements.
Engineering services: Professional services involving the design, construction, or maintenance of technical systems or infrastructure.
Total return: The investment’s price change plus all dividends and distributions, assuming those payouts are reinvested.
TTM: The 12-month period ending with the most recent quarterly report.
When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor’s total average return is 984%* — a market-crushing outperformance compared to 195% for the S&P 500.
They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor.
*Stock Advisor returns as of December 30, 2025.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy.
—
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]
