tl;dr
In November, Riot Platforms (NASDAQ:RIOT) saw a substantial increase in bitcoin production, generating 552 bitcoins, up 21% from October and 6% from the previous year. This has resulted in an average daily production of 18.4 bitcoins. The net proceeds from the sale of bitcoins in November amounted t...
In November, Riot Platforms (NASDAQ:RIOT) saw a substantial increase in bitcoin production, generating 552 bitcoins, up 21% from October and 6% from the previous year. This has resulted in an average daily production of 18.4 bitcoins. The net proceeds from the sale of bitcoins in November amounted to $19.6M, indicating a 57% month-over-month increase and an impressive 142% increase year-over-year. The deployed hash rate for November reached 12.4 EH/s. Despite facing challenges, such as a nearly 9% increase in network difficulty, the company's ongoing efforts in Rockdale Facility have contributed to its production activity. As a result, RIOT shares were trading at a strong 1.72% increase in the pre-market.
Source: Press Release
More about Riot Blockchain Inc
Riot Blockchain Inc is a company focusing on cryptocurrency mining operations in North America. With a market capitalization of $3.126 billion, the company has seen a decrease in its stock price by 1.82% to $16.18. The Relative Strength Index (RSI) stands at 1.582, indicating a slightly overbought market sentiment. However, the stock is currently trading above its 50-day moving average of $14.08, suggesting a bullish trend. The Bollinger Bands show a narrow trading range, indicating potential price volatility in the near future. The company's financial metrics and market sentiment reflect a mix of both positive and negative indicators, suggesting potential risks and uncertainties in the stock's performance.
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