Riot Blockchain ($RIOT) - Miners of the next generation

Summary The continued appreciation of $BTC is a true net positive for Riot as Bitcoin’s price is a main revenue driver for the firm. Riot has continued its growth into early 2021, where it has consistently and consecutively beat on earnings and revenue expectations driving share price higher. As they are a leader in the space, this has really begun to manifest in the efficiency of their streamlined operations. Riot Blockchain, Inc. ($RIOT), primarily focuses on its cryptocurrency mining operation based out of Coinmint LLC.’s facility in Massena, New York. At this facility, they have launched a total of 13,746 Bitcoin mining ASICs over the past year alone. Today, Riot’s mining facility has an operating hash rate capacity of approximately 247 PH/s, making them one of the most powerful facilities on the Bitcoin network. As the cryptocurrency market continues to boom, what’s in it for Riot Blockchain? Fundamentals Fundamentally, Riot has been performing very well as a younger company beginning to approach maturity as it comes closer and closer to turning a profit each year. Moreover, Riot’s debt to asset percentage has been steadily decreasing as working capital looks to be used efficiently all while making sure the company has decent cash on hand to make any acquisitions to expand. Riot has also beaten expectations in their last three out of four quarters, leaving investors confident that continued growth is on the way. Technicals As the underlying asset affecting this stock is Bitcoin, Riot is heavily correlated with its movement and has been since the initial boom back in 2017. The company has blown past previous resistance reaching highs of $80 and is now retesting the $40 level as new support. Moreover, the MACD and RSI are signalling quite overbought levels, so watch for the price to trend sideways as these indicators cool off, then another potential run to the $80s if Bitcoin can hold the $50,000+ level. 

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Riot Blockchain ($RIOT) - Miners of the next generation

Apr 30, 2021

bullish

general Analysis

[1 min Read]

blog post cover photo

Summary

  • The continued appreciation of $BTC is a true net positive for Riot as Bitcoin's price is a main revenue driver for the firm.
  • Riot has continued its growth into early 2021, where it has consistently and consecutively beat on earnings and revenue expectations driving share price higher.
  • As they are a leader in the space, this has really begun to manifest in the efficiency of their streamlined operations.

Riot Blockchain, Inc. ($RIOT), primarily focuses on its cryptocurrency mining operation based out of Coinmint LLC.'s facility in Massena, New York. At this facility, they have launched a total of 13,746 Bitcoin mining ASICs over the past year alone. Today, Riot's mining facility has an operating hash rate capacity of approximately 247 PH/s, making them one of the most powerful facilities on the Bitcoin network. As the cryptocurrency market continues to boom, what's in it for Riot Blockchain?

Fundamentals

Fundamentally, Riot has been performing very well as a younger company beginning to approach maturity as it comes closer and closer to turning a profit each year. Moreover, Riot's debt to asset percentage has been steadily decreasing as working capital looks to be used efficiently all while making sure the company has decent cash on hand to make any acquisitions to expand. Riot has also beaten expectations in their last three out of four quarters, leaving investors confident that continued growth is on the way.

Technicals

As the underlying asset affecting this stock is Bitcoin, Riot is heavily correlated with its movement and has been since the initial boom back in 2017. The company has blown past previous resistance reaching highs of $80 and is now retesting the $40 level as new support. Moreover, the MACD and RSI are signalling quite overbought levels, so watch for the price to trend sideways as these indicators cool off, then another potential run to the $80s if Bitcoin can hold the $50,000+ level.

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RIOT

Riot Blockchain, Inc.

4.71

-0.19
-3.88%

Return

-88.74%
Change % Since Posting
-37.12
Change Since Posting
41.83
Price When Posted

Metrics

80.00
Target Price
8/ 10
Confidence
6-12 Months
Timeframe
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SEC
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