tl;dr
In a recent announcement, Riot Platforms (NASDAQ:RIOT) revealed that their bitcoin mining and data center hosting operations yielded 619 bitcoins in December 2023, marking a 12% increase month over month. While this represents a substantial production output, it also signals a 9% decline on a yearly...
In a recent announcement, Riot Platforms (NASDAQ:RIOT) revealed that their bitcoin mining and data center hosting operations yielded 619 bitcoins in December 2023, marking a 12% increase month over month. While this represents a substantial production output, it also signals a 9% decline on a yearly basis. On average, the company generated 20 bitcoins per day during the month, a slight increase from the 18.4 bitcoins produced in November but a decrease from the 22.0 bitcoins in December 2022. Additionally, Riot Platforms sold 590 bitcoins in December 2023, compared to 540 bitcoins in the previous month and 600 bitcoins in December 2022. As a result of these developments, RIOT shares were trading at a pre-market increase of 1.86%. This data comes from a press release issued by the company.
More about Riot Blockchain Inc
Riot Blockchain Inc is a company focused on cryptocurrency mining in North America, with headquarters in Castle Rock, Colorado. The company's market cap is approximately $3.11 billion. The stock has shown a 1.8% decrease in performance, currently trading at $17.79 per share. The Relative Strength Index (RSI) is at 2.333, indicating a potential oversold condition. However, the Bollinger Bands show a narrow range, suggesting limited volatility. The stock is currently trading above its 50-day moving average, indicating bullish sentiment. However, given the high volatility in the cryptocurrency market and the potential regulatory uncertainties, there are significant risks associated with this analysis. Past performance may not be indicative of future results.
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