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Shares of Crypto Miner Riot Blockchain Jump 7% After Cantor Starts Coverage – CoinDesk

A close-up of one of Riot's mining rigs. (Riot Blockchain)
Shares of crypto mining firm Riot Blockchain (RIOT) surged on Tuesday, closing over 7% higher, after broker Cantor Fitzgerald initiated coverage with an “overweight” rating and a price target of $45. However, shares tumbled 12% on Wednesday as the price of bitcoin fell several percent.
Read more: Riot Blockchain Raises 2022 Hashrate Guidance for Second Time in a Month
UPDATE (Jan. 5, 22:55 UTC): Updated with Riot’s share performance on Wednesday, and Riot and its rivals’ December and full year 2021 bitcoin production numbers.
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Will Canny

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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
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