Riot Blockchain (NASDAQ:RIOT)

Company "Riot Blockchain"

Riot Blockchain is one of the public companies whose activities involve mining cryptocurrencies in North America. The beginning of the formation of Riot Blockchain in the market has been determined since 2000; rebranding was carried out in 2017.

The main focus of the business is on the mining of bitcoins, for which special computing equipment is used. The equipment is based on ASIC integrated circuits. Litecoin mining is also carried out as an alternative business vector.

Today, the company has more than 25 thousand equipment units on its balance sheet; in the future, it plans to install over 60 thousand more units of the latest models from Antminer and Bitmain.

Dramatic changes were introduced in business development in 2021 when Riot Blockchain purchased the entire stake in Whinstone, a company that is one of the largest DATA centers in North America. By integrating Whinstone's comprehensive energy cost management strategy, Riot Blockchain significantly reduced the cost of energy consumed, which positively impacted mining profitability. At the same time, the hosting business for third-party miners was also expanded.

In addition to these 2 areas of activity, Riot Blockchain also provides maintenance services for mining equipment of various brands.

The main advantages of Riot Blockchain are the stable increase in computing power, the presence of its own DATA center, and low-cost electricity tariffs. Since 2016, Riot Blockchain shares have been listed on the Nasdaq stock exchange.