Riot Platforms, Inc. (RIOT) USD Price

Riot Platforms, Inc. is a publicly traded company based in the United States that operates within the digital asset industry, primarily focusing on cryptocurrency mining. Founded in 2000 and originally operating under the name Bioptix, Inc., the company rebranded to Riot Blockchain, Inc. in 2017 before adopting its current name, Riot Platforms, Inc.

The company's core business activity centers on the mining of Bitcoin, the largest cryptocurrency by market capitalization. Riot Platforms operates several large-scale mining facilities that house specialized hardware known as Application-Specific Integrated Circuits (ASICs), which are designed to efficiently solve complex mathematical problems to validate transactions on the Bitcoin blockchain. By doing so, the company earns Bitcoin rewards and transaction fees, which constitute its primary source of revenue.

Riot Platforms has strategically expanded its mining operations through acquisitions and infrastructure development, aiming to increase its hash rate capacity, which is the measure of computational power used in Bitcoin mining. The company owns and operates one of the largest Bitcoin mining facilities in North America, located in Rockdale, Texas. This facility benefits from access to low-cost electricity, which is a critical factor in the profitability of mining operations.

In addition to mining, Riot Platforms, Inc. engages in activities related to the broader blockchain technology sector. The company has made investments in other blockchain and digital asset ventures, thus diversifying its exposure within the industry.

Riot Platforms plays a significant role in the digital asset ecosystem by contributing to the security and decentralization of the Bitcoin network through its mining operations. The company's activities support the infrastructure of the Bitcoin network, which is essential for its functionality and growth. As a publicly listed entity, Riot provides investors with an opportunity to gain exposure to the digital asset industry, particularly Bitcoin mining, without directly holding cryptocurrencies.