The Future of Crypto Miners and Blockchain: RIOT

With the acceleration of the cryptocurrency bull market, the Bitcoin mining stocks listed on the U.S. stocks have also fallen into madness. The three typical benchmarks of RIOT, BTBT and MARA have all increased by more than 10 times, and the daily increase of more than 30%+ has even become the norm. Among them, MARA once again announced the purchase of 80,000 Ant S19 and S19 Pro futures in the past December, which will make its total installed capacity in the future exceed 103,000. Although the mining companies are rich and powerful, and under the current currency prices, making money has strong expectations. Still, if you take a deeper look, you can see that the operating routines of these listed companies are almost the same. It is even not an exaggeration to say that they have a lot of dark history. RIOT-the veteran of the last bull market Riot Blockchain was originally called Venaxis. This biotechnology company has made many attempts in the biological field, but its performance has not improved. Before getting involved in the blockchain business, its maximum revenue was only about US$2 million, and this revenue came from royalties on intellectual property rights. Later, Venaxis acquired BiOptix, a drug development company, and renamed the listed company BiOptix. After another failed attempt at a new business in the biological field, the company appointed a new CEO. This CEO has no experience in biotechnology, and his expertise is an investment in mergers and acquisitions. At the time of the 17-year cryptocurrency bull market, this company started a series of capital operations. The first is to change its name to Riot Blockchain and then change the registration place to Nevada, which does not impose taxes on blockchain companies. At the same time, it also acquired a Canadian blockchain payment company and purchased several cryptocurrency mining machines. After this operation, Riot rose more than 14 times in 2017, and its stock price reached a maximum of 46.2 US dollars. However, in the following years, RIOT's stock price has been declining, with a maximum retracement of more than 98%. Since entering the bull market in the second half of 2020, RIOT's stock price has once again exceeded US$20, and its market value has exceeded US$1.3 billion. Because of the retail investors, the stock was sprayed by foreign media in the last bull market: "How can a biotech stock double in less than three weeks and get more than 500% return in 90 days? Maybe a dog food producer Kibbles and Bits can also be renamed Kibbles and Bitcoin, and tax filing company H&R Block can also be renamed H&R Blockchain so that its market value can jump to three digits." Currently, RIOT has more than 7,040 mining machines with a total computing power of 566 PH/s in operation. The 15,600 Ant S19 Pro ordered earlier will be delivered from January to June this year. According to the latest information released by RIOT on December 21, 2020, the company has purchased another 3000 S19 Pro and 12000 S19j Pro, and the estimated delivery time is May-October 2021.

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The Future of Crypto Miners and Blockchain: RIOT

May 25, 2021

bullish

general Analysis

[2 min Read]

blog post cover photo

With the acceleration of the cryptocurrency bull market, the Bitcoin mining stocks listed on the U.S. stocks have also fallen into madness. The three typical benchmarks of RIOT, BTBT and MARA have all increased by more than 10 times, and the daily increase of more than 30%+ has even become the norm. Among them, MARA once again announced the purchase of 80,000 Ant S19 and S19 Pro futures in the past December, which will make its total installed capacity in the future exceed 103,000.

Although the mining companies are rich and powerful, and under the current currency prices, making money has strong expectations. Still, if you take a deeper look, you can see that the operating routines of these listed companies are almost the same. It is even not an exaggeration to say that they have a lot of dark history.

RIOT-the veteran of the last bull market

Riot Blockchain was originally called Venaxis. This biotechnology company has made many attempts in the biological field, but its performance has not improved. Before getting involved in the blockchain business, its maximum revenue was only about US$2 million, and this revenue came from royalties on intellectual property rights. Later, Venaxis acquired BiOptix, a drug development company, and renamed the listed company BiOptix.

After another failed attempt at a new business in the biological field, the company appointed a new CEO. This CEO has no experience in biotechnology, and his expertise is an investment in mergers and acquisitions. At the time of the 17-year cryptocurrency bull market, this company started a series of capital operations. The first is to change its name to Riot Blockchain and then change the registration place to Nevada, which does not impose taxes on blockchain companies. At the same time, it also acquired a Canadian blockchain payment company and purchased several cryptocurrency mining machines.

After this operation, Riot rose more than 14 times in 2017, and its stock price reached a maximum of 46.2 US dollars. However, in the following years, RIOT's stock price has been declining, with a maximum retracement of more than 98%. Since entering the bull market in the second half of 2020, RIOT's stock price has once again exceeded US$20, and its market value has exceeded US$1.3 billion.

Because of the retail investors, the stock was sprayed by foreign media in the last bull market: "How can a biotech stock double in less than three weeks and get more than 500% return in 90 days? Maybe a dog food producer Kibbles and Bits can also be renamed Kibbles and Bitcoin, and tax filing company H&R Block can also be renamed H&R Blockchain so that its market value can jump to three digits."

Currently, RIOT has more than 7,040 mining machines with a total computing power of 566 PH/s in operation. The 15,600 Ant S19 Pro ordered earlier will be delivered from January to June this year. According to the latest information released by RIOT on December 21, 2020, the company has purchased another 3000 S19 Pro and 12000 S19j Pro, and the estimated delivery time is May-October 2021.

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RIOT

Riot Blockchain, Inc.

5.25

0.06
1.16%

Return

-79.41%
Change % Since Posting
-20.25
Change Since Posting
25.50
Price When Posted

Metrics

31.83
Target Price
10/ 10
Confidence
2-4 Weeks
Timeframe
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