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Brian Beaden

Research Analyst at Needham Emerging Growth Partners LP

Brian Beaden is an Analyst at Needham & Company, LLC, specializing in equity research coverage of technology and growth-oriented companies. His career spans several years in the investment research space, with particular focus on emerging public firms and sector leaders. Beaden actively covers high-growth companies within software, internet, and related technology segments, delivering actionable investment insights and maintaining a solid performance track record benchmarked by platforms like TipRanks, where his success rates and returns are tracked. He holds relevant professional credentials including FINRA registration and applicable securities licenses, and prior to joining Needham & Company, he gained industry experience at other leading financial institutions.

Brian Beaden's questions to Riot Platforms (RIOT) leadership

Question · Q3 2024

Brian Beaden asked what specific conditions Riot would need to see to enter the HPC market, such as Bitcoin cycle dynamics or a specific type of customer. He also inquired about the current lead times for long-lead electrical equipment.

Answer

CEO Jason Les stated that entering the HPC market would depend on securing a deal with a strong, blue-chip counterparty that offers superior economics to Bitcoin mining, particularly regarding upfront capital efficiency. For long-lead items like large substations, he noted that lead times can be 18-24 months, but Riot has already placed orders for its Phase II development, expecting delivery in under a year.

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