Shares of Riot Blockchain (NASDAQ:RIOT) are getting a nice boost on Friday despite no company news emerging from the firm.
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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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