Shares of cryptocurrency miner Riot Blockchain (NASDAQ: RIOT) surged on Monday after the company gave investors a mining update for the first quarter. The company said it mined 75% more Bitcoin (CRYPTO: BTC) tokens than it did last year, and that has the market excited. As of 11 a.m. EDT today, Riot Blockchain stock was up 8%.
According to today's press release, Riot Blockchain mined 491 Bitcoins in the first quarter, with 187 of those coming in March alone. This was a notable increase from last year. First-quarter Bitcoin production was up 75% from the same period in 2020, and production in March was up 80% year over year.
Image source: Getty Images.
For further details see:
Riot Blockchain Stock Surges After Mining Almost 500 Bitcoins in the First Quarter