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- 1 RIOT has observed a strong revenue and has seen a production of 2115 Bitcoins in the current quarter
- 2 RIOT stock is currently seeing a weak recovery in the price. It has seen a gain of % in the intraday session
The world of crypto has grown strong over time, and investors are looking to invest in leading companies within this space. RIOT is one such company that has greatly attracted investors. The company deals in cryptocurrency mining and other blockchain services. Riot has also been making strategic investments to improve their infrastructure. It is also one of the companies with the largest fleet of mining hardwares.
RIOT has a hashpower of 10.5 EH/S and has deployed over 94176 miners. The company has produced over 676 Bitcoins, which is 37 Bitcoins more than April. The average BTC production per day is 21.8 Bitcoin. In the current quarter, RIOT has reported over $73.2 million which is higher than the previous quarter. The average cost of Bitcoin production for the company is around $10354 which has declined over the past few months. The mining revenue and Data center revenue of the company have also grown.
RIOT has a market cap of $1.97 billion with a negative Earnings per share (EPS). RIOT stock has a 52-week high of $14.5 which is just a few inches away from the current price. RIOT stock may see a strong bullish momentum in the future.
Will RIOT Stock Price Rally To A New High?
RIOT stock is trading in a weak upward trend on the weekly technical chart. On the daily chart, RIOT is demonstrating a bullish trend. The stock price is trading at $11.25 with a gain of 8% in the intraday session. The upward trend of RIOT may witness a halt near $14. Meanwhile, the support level has been established at $9.6. The asset price is looking to jump above the 100 Daily Moving Average, which may push the price to a new high.
The RSI of RIOT is near 53, indicating its presence in the neutral zone. The positive slope is hinting at the movement towards a bullish trend.
Summary
RIOT has seen a growth in the revenue and has observed a strong production in the revenue. RIOT stock is currently observing a weak recovery and can see a new in the future.
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Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
