Mining company Riot dropped "blockchain" from its name

avrosinovvaagn@newsletter.paragraph.com (avrosinovvaagn) — Mon, 09 Jan 2023 07:52:33 GMT

One of the largest bitcoin miners in the industry, Riot Blockchain, changed its name to Riot Platforms in a rebranding to emphasize the "growing diversification" of its business operations.

Hosting provider Applied Digital, formerly known as Applied Blockchain, made a similar decision in November. The company also attributed the move to a desire to diversify.

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

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