Nasdaq Mining Stocks, $700 Million Vanished in a Day Amid AI Dreams

Nasdaq-listed bitcoin mining and infrastructure company RIOT Platforms Inc. (Nasdaq: RIOT) closed at $21.39 (approximately ₩30,000) on the U.S. stock market on the 7th, down 6.47% from the previous day. Its market capitalization shrank to roughly $8.09 billion (about ₩11.2 trillion), erasing some $491.5 million (around ₩680 billion) in a single session. Trading volume for RIOT reached 8.03 million shares that day.

In the first quarter of 2026, RIOT reported revenue of $167.22 million (approximately ₩230.8 billion) but posted a net loss of $504.8 million (about ₩690.7 billion), driven by weaker mining profitability and impairment charges. The company has been actively monetizing its bitcoin holdings, selling 3,778 BTC in Q1 alone to raise roughly $289.5 million (around ₩399.5 billion), and earlier this month transferred 500 BTC to institutional custody provider NYDIG as part of an accelerated cash and liquidity management plan.

RIOT—one of North America’s leading bitcoin miners, with large-scale mining facilities and power assets centered in Texas—is now shifting its strategic focus toward expanding its data center and AI/high-performance computing infrastructure businesses. Because its performance and share price are closely linked to bitcoin prices, network hash rate and electricity costs, its aggressive capacity expansion and ongoing coin sales have emerged as factors that both drive growth expectations and elevate financial risk.