The Nasdaq-listed firm, which declares that it had 3,500 Bitmain S9 miners expanded at a data center in Oklahoma City at the end of March and is going to have 8,000 running by the end of May, claimed that it “presently converts any Bitcoin Cash mined to Bitcoin on a regular basis.” In March, approximately 69 BTC and 44 BCH were earned by Riot Blockchain, that collectively worth about $670,000 at the moment of writing.
Riot Blockchain also possesses a 12.9% ownership share in Coinsquare, Canada-based cryptocurrency exchange, which recently gained a CAD $430 million assessment (~$335 million) and is aimed to list its stakes on the Toronto Stock Exchange this year. The firm lately acquired a controlling stake in Logical Brokerage Corp., a futures brokerage company that is registered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA). Riot Blockchain has also claimed that it is “investigating” the opportunity of launching its own cryptocurrency exchange.
However, Riot Blockchain shares are trading well under the all-time high they set in mid-December, which has been observed with most cryptocurrency “proxy stocks.”
One reason for the fall is that the company may lose its spot on the Nasdaq, which would relegate its shares to over-the-counter (OTC) markets, that are much less liquid.
Nasdaq has threatened to delist Riot Blockchain’s shares for breaking the rules of the platform. The company has not managed to arrange its 2017 annual meeting of shareholders in a timely manner, which the firm says stems from difficulty achieving quorum. In the filing, Riot Blockchain announced it has scheduled an annual meeting for May 9 at its mining facility.