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Nov. 3, 2021, 7:38 a.m. EDT

Regulatory Clarity, Supply Constraints and Robust Demand Fuel Outlook for Top Bitcoin Growth Stocks (SI, ISWH, BKKT, MA, MSTR, RIOT, HIVE, BITO)

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The Company is expanding and upgrading its mining operations through industrial-scale infrastructure development and latest-generation miner procurement. Riot is headquartered in Castle Rock, Colorado, and the Whinstone Facility operates out of Rockdale, Texas. The Company also has mining equipment operating in upstate New York under a co-location hosting agreement with Coinmint, LLC.

Riot Blockchain Inc. /zigman2/quotes/209538617/composite RIOT -4.07% recently announced the development of 200 megawatts of immersion-cooling technology at its Whinstone facility, which to the Company's knowledge is the Bitcoin mining industry's first industrial-scale immersion-cooled deployment of Bitcoin mining hardware. According to the release, the development of 200MW of immersion-cooling at industrial-scale is a direct result of the Company's focus on Bitcoin mining infrastructure development, led by Riot's leadership team at Whinstone.

"After months of research and development, utilizing partnerships across industries, Riot is proud to be a pioneer in the use of cutting-edge immersion-cooling technology at an unprecedented scale," said Jason Les, CEO of Riot. "By leveraging technology, industry-leading low power costs, and economies of scale, Riot intends to continue driving operating and capital efficiencies for its self-mining business and its institutional clients. Due to these efficiencies, we anticipate observing an increase in the Company's hash rate and productivity through 2022, without having to rely solely on purchasing additional ASICs."

Shares of RIOT have been cruising higher in recent action, up about 12% over the past week. That move has come in a strong technical context, with the stock up over 20% over the past month.

Riot Blockchain Inc. /zigman2/quotes/209538617/composite RIOT -4.07% pulled in revenues of $34.3M during the company's most recently reported quarterly financial data, driving top line growth topping 1,660% compared to year-ago data. The company is also sitting on a strong balance sheet, with cash levels ($220.2M) exceeding current liabilities ($37.5M) by a wide margin.

Other key names in the Bitcoin stock space include Silvergate Capital Corp. /zigman2/quotes/214908078/composite SI -1.92% and Hive Blockchain Technologies Ltd. /zigman2/quotes/208543683/composite HIVE -1.98% .

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The post Regulatory Clarity, Supply Constraints and Robust Demand Fuel Outlook for Top Bitcoin Growth Stocks (SI, ISWH, BKKT, MA, MSTR, RIOT, HIVE, BITO) appeared first on Wall Street PR .

COMTEX_396284446/2770/2021-11-03T07:37:48

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/zigman2/quotes/209538617/composite
US : U.S.: Nasdaq
$ 6.84
-0.29 -4.07%
Volume: 13.47M
May 20, 2022 4:00p
P/E Ratio
35.11
Dividend Yield
N/A
Market Cap
$905.75 million
Rev. per Employee
$636,546
loading...
/zigman2/quotes/209538617/composite
US : U.S.: Nasdaq
$ 6.84
-0.29 -4.07%
Volume: 13.47M
May 20, 2022 4:00p
P/E Ratio
35.11
Dividend Yield
N/A
Market Cap
$905.75 million
Rev. per Employee
$636,546
loading...
/zigman2/quotes/214908078/composite
US : U.S.: NYSE
$ 70.39
-1.38 -1.92%
Volume: 1.14M
May 20, 2022 4:00p
P/E Ratio
22.50
Dividend Yield
N/A
Market Cap
$2.27 billion
Rev. per Employee
$733,125
loading...
/zigman2/quotes/208543683/composite
US : U.S.: Nasdaq
$ 0.89
-0.02 -1.98%
Volume: 2.60M
May 20, 2022 4:00p
P/E Ratio
2.26
Dividend Yield
N/A
Market Cap
$360.62 million
Rev. per Employee
$10.08M
loading...

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