Shares of Riot Blockchain (NASDAQ:RIOT) are getting a nice boost on Friday despite no company news emerging from the firm.
Overall, RIOT stock traded relatively flat for most of 2020 up until late July, And after ending the year strong and more than 1,300% higher, RIOT stock continues to ride its positive momentum as we close out January 2021.
So, who is Riot Blockchain and what do they do? Let’s take a closer look at the company for a better idea.
- According to its website, Riot Blockchain focuses on “proof-of-work mining” but also has other targeted investments.
- Overall, the firm builds and operates the blockchain technology on which bitcoin is based.
- In just the past year, Riot made a number of strides and improvements to its bitcoin mining business — with more coming in 2021.
- For example, earlier this month, Riot Blockchain announced that it received and deployed 2,500 Bitmain S19 Pro Antminers.
- Over the past year, shares of RIOT stock have jumped nearly 1,600% from under $1.50 per share.
- And right now, the stock sits at just over $22.
RIOT stock was up 7.8% as of Friday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.
Article printed from InvestorPlace Media, https://investorplace.com/2021/01/riot-stock-6-things-to-know-about-riot-blockchain-as-share-prices-soar/.
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