Valued at almost $3 billion by market cap, Riot Platforms (RIOT) is among the largest Bitcoin (BTCUSD) mining companies in the world. The prices of BTC miners are closely tied to the world’s largest cryptocurrency. While Bitcoin prices have more than quadrupled since the start of 2023, Riot Platforms stock is up over 142% in the last 17 months. Let’s see if it makes sense to own RIOT stock at the current valuation. Riot Platforms Posts Strong Q1 NumbersIn Q1 of 2024, Riot Platforms reported adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $245.7 million and ne…