For Riot Blockchain To Just Break-Even, Bitcoin’s Price Would Have To Average $19,000

Riot Blockchain (RIOT) is a Bitcoin Mining Farm. It has no innovation or commerce, only the running of Bitcoin mining machines.

For less than $12M, Riot’s company could be easily duplicated, yet its market cap is over $80M.

Riot utilizes the same amount of megawatts as crypto miner DMGBlockchain, yet Riot’s valuation is over 8x DMG’s.

If Bitcoin falls below $6,500, then all of Riot’s miners would be unprofitable.

Our calculations show that Bitcoin’s price would have to average $19,000 for Riot to break even.

See the full report on Seeking Alpha here.