Share this article
Bitcoin Mining Company Riot Blockchain Passes $1B in Market Cap
Riot's value was less than $50 million when it started mining bitcoin three years ago.
By Zack Voell
Updated Mar 6, 2023, 3:01 p.m. Published Dec 28, 2020, 4:30 p.m.
Nasdaq-listed bitcoin mining company Riot Blockchain (RIOT)https://hashrateindex.com/stocks/riot reached a $1.08 billion market capitalization Monday after surging nearly 13% in early trading hours.
- Shares of the Castle Rock, Colo.-based firm have gained over 1,250% in 2020, currently trading hands above $16.
- Over the same period, bitcoin gained nearly 280%.
- Riot has issued nearly 17 million shares since November, with a total of 67.5 million shares outstanding, according to data collected by ycharts.com.
- Riot has aggressively expanded the size and sophistication of its mining operations in 2020, including a planned pilot project in Texas to test water immersion cooling technology in addition to purchasing over 31,000 new ASIC mining machines this year, per CoinDesk's prior reporting.
- Riot shares opened Monday nearly 18% higher than the Thursday close on Christmas Eve.
- Riot pivoted its business model from biotech to bitcoin mining in October 2017 when the company's value was less than $50 million.
- Riot did not immediately respond to a comment request from CoinDesk.
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
Bitcoin Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
What to know:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
Top Stories
