14 Best Growth Stocks Under $10 to Buy Right Now

Page 5 of 12

8. Riot Platforms, Inc. (NASDAQ:RIOT)

Stock price as of May 2nd: $8.39

Revenue CAGR last 5 years: 361.17%

Number of Hedge Fund Holders: 38

Riot Platforms, Inc. (NASDAQ:RIOT) is one of the best growth stocks on our list, specializing in Bitcoin mining and digital infrastructure. RIOT operates large-scale mining facilities in central Texas and Kentucky and maintains electrical switchgear engineering and fabrication operations in Colorado. The company has a vertically integrated strategy, encompassing mining operations and the development of electrical products.

Riot Platforms, Inc. (NASDAQ:RIOT) reported total revenue of $161.4 million in Q1 2025, representing a 13% increase from the previous quarter, primarily driven by increased uptime and improved operating efficiency in Bitcoin Mining operations. The company achieved an average uptime of nearly 90% in Bitcoin Mining operations and increased its self-mining hash rate from 31.5 exahash to 33.7 exahash during the quarter. Despite reporting a net loss of $296.4 million primarily due to mark-to-market adjustments from Bitcoin price decline, the company maintained strong operational metrics with a gross margin of 46% and Bitcoin Mining gross margin of 48%.

A significant strategic move for Riot Platforms, Inc. (NASDAQ:RIOT) was the acquisition of Rhodium’s assets, including mining operations and access to 125 megawatts of contracted power at the Rockdale Facility, which will help reduce operating losses and litigation costs associated with legacy contracts. The company is making substantial progress in developing its AI/HPC data center business, with completed feasibility studies, expanded site footprint through additional land acquisitions, and enhanced internal expertise. RIOT has secured necessary easements for municipal water at Corsicana while also acquiring additional land parcels for data center development, demonstrating aggressive pursuit of value-maximizing outcomes for its data center business.

Page 5 of 12