Riot Blockchain and Hive Blockchain surged Tuesday, outperforming crypto mining peers at a time when bitcoin and ether, the native token for Ethereum, are near all-time highs.
- Shares of Riot climbed more than 6% as of 10:20 a.m. ET (19:00 UTC), while other bitcoin miners were mostly little changed as the price of bitcoin, the largest cryptocurrency by market capitalization, traded above $67,000.
- German miner Northern Data, which sold its Whinstone mining facility in Texas to Riot, surged in Europe after saying the company received auditor KPMG’s approval on its annual and consolidated financial statements for last year.
- Northern Data sold the facility to Riot in April and said it will own about 12% of Riot’s total outstanding common stock.
- According to a recent presentation by Northern Data, it has 1.25 million shares of Riot.
- Meanwhile, one of the biggest Ethereum miners, Hive, also rose 6% as ether touched an all-time high and traded near $4,800.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.