Mining company Riot drops ‘blockchain’ from its name

One of the industry’s largest bitcoin miners, Riot Blockchain, has renamed itself Riot Platforms as part of a rebranding to underline “growing diversification” of its business operations.

Riot Blockchain, Inc. Announces Corporate Rebranding to Riot Platforms, Inc., Reflecting Increasingly Diversified, Bitcoin-Driven, Business Operations.

Read more in today’s press release: https://t.co/zEPk3cojFS.

— Riot Platforms, Inc. (@RiotPlatforms) January 3, 2023

“The range and scale of our business continues to expand. This rebranding better reflects our position as strategic capital allocators to broaden the reach of bitcoin-focused operations,” said Riot Platforms CEO Jason Les.

In November, hosting provider Applied Digital, formerly known as Applied Blockchain, принял a similar step. The company also attributed the move to diversification.

Some companies are shifting focus to other directions. For example, in August Stronghold Digital Mining focused on selling electricity to the grid.

In November, Riot Blockchain mined a record 521 BTC and increased its hashrate to a company-high of 7.7 EH/s.

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