RIOT is a company that mines cryptocurrencies like Bitcoin.
Miners of digital currencies make money by running data centers that process transactions in digital currencies. Miners get paid for making sure that cryptocurrency transactions are legitimate. By letting the network use their processing power, these companies can “mine” new bitcoins.
The company is very unstable, and investors have made astronomical returns in the past. This includes gains of more than 2000% during the BTC bull market in 2018 and more than 10,000% during the BTC bull market in 2021.
But the blockchain stock and the rest of the cryptocurrency market are both down a lot. As the price of electricity goes up, miners also have to pay more to make their products, which slows their growth.
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Still, if Bitcoin gets another chance to go to the moon, there is still a chance of another huge return.