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    Bin Somers

    Research Analyst at BTIG

    Bin Somers is an analyst at BTIG specializing in equity research, with a focus on companies in the real estate investment trust (REIT) and related sectors. While specific companies and exact performance metrics are not listed, his work is noted for rigorous sector coverage and in-depth investment analysis. His career timeline, additional roles prior to joining BTIG, and professional credentials such as securities licenses or FINRA registrations are not publicly available at this time. However, he is recognized within the firm for his expertise and attention to sector-specific investment strategy.

    Bin Somers's questions to Riot Platforms (RIOT) leadership

    Bin Somers's questions to Riot Platforms (RIOT) leadership • Q1 2025

    Question

    Bin Somers of BTIG asked about the timing and rationale for the recent $100 million credit facility with Coinbase and the company's forward-looking capital strategy. He also inquired about Riot's outlook on global hash rate trends given the current tariff environment.

    Answer

    EVP & Head of Corporate Development Jason Chung explained that the Coinbase facility is one of several financing levers being used to minimize shareholder dilution amidst weak market valuations, alongside limited ATM usage and selling monthly Bitcoin production. CEO Jason Les added that tariffs may slow global hash rate growth, but Riot is well-positioned due to its long-term U.S.-based miner purchase agreement with MicroBT, which insulates them from these specific tariffs.

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