Home Trending Stocks Why shares of Riot Blockchain Inc. (RIOT) surged in after-market trading?

Why shares of Riot Blockchain Inc. (RIOT) surged in after-market trading?

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.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now.

Recent news and developments about Riot Blockchain Inc.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

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.

Read More

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.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now.

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.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Aprea Therapeutics Inc. (APRE) stock soars during current market trading. What’s the update?

Aprea Therapeutics Inc. (NASDAQ: APRE) stock gained by 41.03% at the last check in the current market trading. Aprea Therapeutics is a pharmaceutical business...

Roblox Corp. (NASDAQ: RBLX) stock falls during pre-market trading session. What’s happening?

Roblox Corp. (NASDAQ: RBLX) stock gained by 2.28% at last close while the RBLX stock price declines by 8.13% in the pre-market trading session....

Can-Fite BioPharma Inc. (CANF) stock soars during current market. Why so?

Can-Fite BioPharma Inc. (NASDAQ: CANF) stock gained by 4.42% in the current market trading session. Can-Fite BioPharma Ltd. is a medication research company in...

UXIN stock surges during current market. Here’s to know why?

Uxin Ltd. (NASDAQ: UXIN) stock gains by 14.67% at last check during current market trading. In China, Uxin Limited is a prominent online used...

Opgen Inc. (OPGN) stock surged during pre-market session. What’s driving it high?

Opgen Inc. (NASDAQ: OPGN) stock declined by 1.84% at the last close whereas the OPGN stock price gains by 22.07% in the pre-market trading...

Aprea Therapeutics Inc. (APRE) stock soars during current market trading. What’s the update?

Aprea Therapeutics Inc. (NASDAQ: APRE) stock gained by 41.03% at the last check in the current market trading. Aprea Therapeutics is a pharmaceutical business...

TAL Education Group (TAL) stock is tumbling today: What’s Going on?

Shares of the TAL Education Group (TAL) stock were tumbling in the current market trading session today on June 16, 2021, without any obvious...

SPI Energy Inc. (SPI) stock surged in the current market trading. Here’s the update

SPI Energy Inc. (NASDAQ: SPI) stock soars by 15.42% during the current market trading session. SPI Energy is an international renewable energy company that...

Related News

Aprea Therapeutics Inc. (APRE) stock soars during current market trading. What’s the update?

Aprea Therapeutics Inc. (NASDAQ: APRE) stock gained by 41.03% at the last check in the current market trading. Aprea Therapeutics is a pharmaceutical business...

Roblox Corp. (NASDAQ: RBLX) stock falls during pre-market trading session. What’s happening?

Roblox Corp. (NASDAQ: RBLX) stock gained by 2.28% at last close while the RBLX stock price declines by 8.13% in the pre-market trading session....

Can-Fite BioPharma Inc. (CANF) stock soars during current market. Why so?

Can-Fite BioPharma Inc. (NASDAQ: CANF) stock gained by 4.42% in the current market trading session. Can-Fite BioPharma Ltd. is a medication research company in...

UXIN stock surges during current market. Here’s to know why?

Uxin Ltd. (NASDAQ: UXIN) stock gains by 14.67% at last check during current market trading. In China, Uxin Limited is a prominent online used...

Opgen Inc. (OPGN) stock surged during pre-market session. What’s driving it high?

Opgen Inc. (NASDAQ: OPGN) stock declined by 1.84% at the last close whereas the OPGN stock price gains by 22.07% in the pre-market trading...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam