Share this article
Bitcoin Miner Riot Blockchain Ends Week Up 50% After Tapping 2-Year Highs
Shares of the mining company surged to $6.60 Friday.
By Zack Voell
Updated Dec 10, 2022, 9:26 p.m. Published Nov 20, 2020, 10:35 p.m.
As bitcoin continues surging toward record highs, bitcoin mining companies ride its coattails.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Shares of the publicly traded bitcoin mining company Riot Blockchainhttps://hashrateindex.com/stocks/riot rose 50% this week, trading hands just below $6.00 at week’s end. Bitcoin gained nearly 17% over the same period.
Riot shares surged even higher in early hours Friday, reaching $6.60, a level not seen since early September 2018.
CoinDesk reported that the Castle Rock, Colo.-based firm posted its lowest per share loss in Q3 since the company fully deployed its cryptocurrency mining infrastructure, over two years ago.
Public mining companies like Riot that emphasize their bitcoin reserves have seen strongly positive reactions from the market, said Ethan Vera, co-founder of Seattle-based mining company Luxor Technology. “Companies that liquidate to fiat every day didn’t see as strong of gains,” he said.
Riot continues to outperform bitcoin through 2020, with investors enjoying a 390% year-to-date return compared to bitcoin’s 168% gain.
The firm plans to continue expanding its already aggressively growing mining capacity through 2021 and beyond, reporting a 450% increase in hash power for Q3 over the same period in 2019, reaching 556 petahash per second (PH/s).
“With the current market momentum many of the mining companies who have never broken a profit will likely report positive EBITDA heading into 2021,” Vera said.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Chainlink's LINK Drops 5% Despite Coinbase Bridge Deal, But Bottoming Signs Emerge
Coinbase tapped Chainlink services for $7 billion bridge, but broader crypto weakness weighed on price.
What to know:
- LINK declined 5% over the past 24 hours amid broader market weakness
- Trading volume surged 20% above weekly average, with institutional activity emerging near session lows.
- On the news front, Coinbase named Chainlink CCIP as its interoperability provider for a new $7 billion wrapped asset bridge and digital asset treasury firm Caliber started staking its holdings for yield.
Top Stories
