Riot Blockchain Inc RIOT shares are trading higher by 2.40% to $5.40 Friday afternoon. Shares of cryptocurrency miners, including Riot Blockchain, are trading higher in recent sessions as the broader cryptocurrency sector rebounds. Broader economic concerns, Federal Reserve policy tightening and traders assessing the possibility of a recession dragged markets lower in June.
Riot Blockchain has benefitted over the past week amid a marked rebound in the price of apex cryptocurrency Bitcoin and second-largest market cap cryptocurrency Ethereum.
Bitcoin is trading 12.76% higher over the past week at around $21,750.
Ethereum is trading 14.96% higher over the past week at around $1,230.
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Riot Blockchain focuses on bitcoin mining operations in North America.