Riot Blockchain (RIOT)

Mar 28, 2022Trade Ideas

Crypto mining stocks, like Riot Blockchain (RIOT) should benefit from the Bitcoin rally.

At the moment, RIOT is up $1.41 in pre-market, as BTC rises another 6%. Should the BTC rally continue, RIOT could tag along for the ride.

Even better, RIOT is fundamentally strong.

For full-year 2021, RIOT’s total mining revenue in 2021 was $184.4 million, as compared to $12.0 million in 2020, an increase of 1,439% year-over-year. Also, mining revenue in excess of mining cost of revenues (excluding depreciation and amortization), was $138.9 million (75% of total mining revenue), as compared to $5.7 million (48% of total mining revenue) in 2020.

Net loss for 2021 was $(7.9) million, or $(0.08) per share, compared to a net loss of $(12.7) million, or $(0.30) per share in 2020.

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