Why Investors Dumped Riot Blockchain Stock Today
Shares of bitcoin-mining company Riot Blockchain (NASDAQ: RIOT) continued their decline on Thursday because the price of bitcoin keeps falling. As of 3 p.m. EST, Riot Blockchain stock was down 10%. And over the past 24 hours, the price of bitcoin has fallen 8%, according to CoinDesk.
Riot Blockchain mines bitcoin to generate revenue. By providing its own computing power to the bitcoin blockchain network, transactions are processed and the whole system functions. Of course, if your business is paid in bitcoin tokens, it's not good when the price of bitcoin goes down. That's why investors are dumping Riot Blockchain stock today.
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Source Fool.com
