Bitcoin mining company Riot Blockchain (RIOT), listed on Nasdaq, saw a tremendous increase of about 13% earlier today, reaching a market value of $ 1.08 billion on the first day of the new week.

 

Mining company’s shares jumped 1,250% this year

The shares of Colombia-based firm Castle Rock gained more than 1,250% in 2020 and are currently trading at over $ 16.

Over the same period, Bitcoin gained about 280% in value.

Riot has raised nearly 17 million shares with a total of 67.5 million shares since November, according to data collected by ycharts.com.

An aggressive growth year is behind for Riot

Riot aggressively aggravates the size and complexity of mining operations in 2020, including purchasing more than 31,000 new ASIC mining machines this year, as well as a pilot project planned in Texas to test immersion cooling technology, according to previous reports from CoinDesk. somehow it expanded.

Riot shares opened on Monday, nearly 18% higher than the Thursday close on Christmas Eve.

Riot changed its business model, worth less than $ 50 million, from biotech to Bitcoin mining in October 2017.

Riot has not yet responded to a request for comment from CoinDesk.

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