Riot Blockchain (RIOT) April '22 Production Update - Roth Capital

Roth Capital analyst Darren Aftahi reiterated a Buy rating and $36.00 price target on Riot Blockchain (NASDAQ: RIOT) after the company offered its April 2022 production update showing the ending hashrate for the month of April was ~4.7 EH/s, up ~9.3% m/m with ~3.5K machine installs.

The analyst stated "RIOT currently has ~7.2K machines staged for deployment with an expected 1.7K to be delivered from Bitmain throughout May. Daily BTC mined was up ~2.7% m/m, demonstrating an outpacing of the network hashrate. Without additional machine orders announced in April, RIOT maintains its prior guidance of 12.8 EH/s with ~120K machines deployed by January 2023, and our model remains unchanged."

For an analyst ratings summary and ratings history on Riot Blockchain click here. For more ratings news on Riot Blockchain click here.

Shares of Riot Blockchain closed at $10.84 yesterday.

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