- DA Davidson analyst Christopher Brendler initiated coverage of Riot Blockchain Inc RIOT with a Buy rating and $42 price target, implying a 60.8% upside, as part of a broader research note on crypto mining.
- The analyst cites the company's most significant mining operation in the U.S., providing them with scale, along with its "cheap" power and experienced management team.
- Riot Blockchain focuses on building, supporting, and operating blockchain technologies.
- Riot Blockchain's bitcoin production in September climbed ~346% year-on-year.
- Riot Blockchain mined 2457 BTC as of September-end 2021, up ~236% Y/Y.
- Price Action: RIOT shares traded higher by 4.52% at $27.30 in the premarket session on the last check Friday.
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