Riot Platforms Inc RIOT shares are trading higher by 4.5% to $11.25 during Monday's session amid an increase in the price of Bitcoin.
Riot Platforms is involved in Bitcoin mining. The company operates mining facilities that validate and secure Bitcoin transactions, earning rewards in the form of newly minted Bitcoin and transaction fees.
When the price of Bitcoin rises, the revenue generated by Riot from its mining operations typically increases. This can lead to higher profitability and, consequently, a positive impact on the company's stock price.
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According to data from Benzinga Pro, RIOT has a 52-week high of $20.65 and a 52-week low of $3.25.
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