Riot's Fundamentals Are Deteri-To The Moon - Tiger Brokers Online Investing Community - To The Moon

Riot's Fundamentals Are Deteriorating, On Top Of All The Stock Selling By Executives/Insiders — Last Week… YIKES! $Riot Blockchain, Inc.(RIOT)$

The continued decline in average price realized per sold coin was a pure function of the seemingly never ending Ice Age in Bitcoin, but the notion that Riot continues to rely heavily on both subsidies from ERCOT contracted-for future power credits ($2.4 million last month, up from $2.1 million in the same month a year ago)… and selling almost 90% of everything it mines in a month… is CRAZY.

All while losing over half a billion on a GAAP basis, in the prior year.

This company is still bleeding cash — profusely, and is selling its own stock into the market, along with its executives (and founding acquisition / partners)… bailing out, in multi-multi-million dollar paydays.

All in all — nothing speaks of any kind of positive catalyst, here — macro- or local.

Bitcoin is flirting with a $25K-something spot price handle — again. The Ice Age is in no manner in retreat.

D A M N.

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