Riot Blockchain Inc. (RIOT) shares price gained 1.3% to $28.0 in after-market trading on Wednesday. RIOT’s stock surged 9.94% to $27.64 in the normal trading session on Wednesday. The stock volume recorded 28.09 million shares.
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Recent news and developments about Riot Blockchain Inc.
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New appointments
On May 24, 2021, Riot Blockchain, Inc appointed Benjamin Yi as Executive Chairman, and Lance D’Ambrosio has been appointed to the Company’s Board of Directors, as an independent director.
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Financial results announcement
On May 17, 2021, Riot Blockchain announced its financial results for the three months ended March 31, 2021.
Q1 2021 financial highlights
Riot Blockchain reported a record $7.5 million net income or $0.09 per share for the three months ended March 31, 2021, compared to a $4.3 million net loss of $0.15 per share for the same three-month period in 2020.
It spent %5.5 million in selling, general, and administrative expenses in Q1 2021 compared to $3.7 million in Q1 2020.
The company reported $275.6 million in cash and Bitcoin as of March 31, 2021, compared to $235.0 million on December 31, 2020.
Production and Operations Updates of April 2021
On May 10, 2021, Riot Blockchain, Inc released its April production and operational updates, including its unaudited Bitcoin production for April 2021 and its latest miner delivery status.
- Riot produced 206 BTC in April 2021, compared to the production of 108 BTCin April 2020.
- The Company produced a total of 697 BTC through April 2021compared to pre-halving BTC production of389 BTC during April 2020.
- Riot holds over 1,771 BTC, on April 30, 2021, all of which were produced by its mining operations.
Production and Operations Updates of March 2021
- In March 2021, Riot produced 187 BTC, compared with pre-halving March 2020 production of 104 BTC.
- In Q1 2021, the Company produced 491 BTC, compared to its pre-halving Q1 2020 production of 281 BTC.
- Riot holds over 1,565 BTC on March 31, 2021, on its balance sheet, all of which was produced by its mining operations.
New Antminers purchasing
On April 7, 2021, Riot purchased42,000 S19j Antminers for $138.5 million from Bitmain Technologies Limited to increase its Bitcoin mining hash rate, which is now estimated to reach approximately 5 exahash per second (EH/s) by the end of 2021, and 7.7 EH/s once fully deployed by the end of 2022.
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Conclusion
The cryptocurrency and related businesses are very volatile at the moment. The stock price of crypto-related businesses is facing massive fluctuation for the last week. That’s why RIOT stock is going up one day and the next day it is down. It is impossible to predict how RIOT will perform in the coming days due to high volatility.
