: Riot Blockchain: Closure of Whinstone Acquisition
https://finance.yahoo.com/news/...hinstone-acquisition-200541210.html " Last week, the company completed the acquisition of Whinstone US from Northern Data. The Bitcoin miner is paying $80 million and 11.8 million in common stock (valued at approximately $326 million) which will see it get its hands on a 100-acre facility with long-term access 750 MW of power, set to be home to Riot’s growing arsenal of Bitcoin mining rigs...."
https://pulse2.com/riot-stock-price-44-target-from-b-riley/ "The shares of Riot Blockchain Inc (NASDAQ: RIOT) have received a price target increase from $43 to $44 from B. Riley. And B. Riley analyst Lucas Pipes assigned the company a “Buy” rating...Pipes had cited the closure of the company’s acquisition of Whinstone. And Pipes believes that the official closing of the deal is a major positive for the company. "
"The company mines -- the process in which the cryptocurrency is created by a computer -- Bitcoin ; thus, their share prices are closely correlated. Bitcoin lost about one-third of its value in May, so Riot Blockchain stock followed suit. Riot also announced financial results for the first quarter of 2021 in May. Revenue increased 881% year over year to $23.2 million, getting a boost not just from skyrocketing Bitcoin pricing (which was up 781% from the end of March 2020 to the end of March 2021) but also from more Bitcoins mined. During the first quarter, 491 were mined, compared with just 303 in the same period the year before. ..." https://www.fool.com/investing/2021/06/07/...ain-stock-crashed-35-in/