Mining company Riot drops “blockchain” from its name

One of the largest bitcoin miners in the industry, Riot Blockchain, has changed its name to Riot Platforms during the rebranding to emphasize the “growing diversification” of 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 scope of our business continues to expand. This rebrand better reflects our position as strategic capital allocators to expand the reach of Bitcoin-centric operations,” said Jason Les, CEO of Riot Platforms.

In November, a similar decision accepted hosting provider Applied Digital, formerly known as Applied Blockchain. The company also explained this step by the desire for diversification.

Some companies even shift their focus to other areas. For example, in August Stronghold Digital Mining focused selling electricity to the grid.

Recall that in November, Riot Blockchain mined a record 521 BTC and increased the hashrate to its maximum of 7.7 EH / s.

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