Riot Blockchain: Another Top Bitcoin Mining Stock

SummaryRiot Blockchain is one of the largest Bitcoin mining companies in North America, with a market cap of $1.1 billion.Riot mined more Bitcoin than Marathon Digital in August 2022 but is still way behind Core Scientific.The recent CPI inflation selloff provides a nice opportunity to buy RIOT stock at a discount.Riot Blockchain (NASDAQ:RIOT) is another fast-growing Bitcoin (BTC-USD) mining company that I have yet to cover on Seeking Alpha.While I do believe Bitcoin will be accepted as money everywhere in the future, I think it's foolish to trade Bitcoin for US dollars at the moment.However, I want to give you several different Bitcoin-related companies to choose from, and Riot is one of the stronger ones.This article will discuss pros and cons of investing in Riot Blockchain stock and share some key details about the company's future outlook.Riot OverviewRiot Blockchain is an American Bitcoin mining company that mines Bitcoin in Central Texas, USA. The company owns the single Bitcoin mining facility, Whitestone US, that has a total power capacity of 750 MW.Riot's Whitestone Bitcoin Mining Facility (riotblockchain.com)The company has 46,658 Bitcoin miners deployed at a hashrate of 4.8 EH/S.In its most recent Q2 2022 quarter, Riot generated $72.9 (Up 112% YoY) million in revenue and mined 1,395 (Up 107% YoY) Bitcoin in total.Net losses were -$366.3 million for the quarter, due to mostly Bitcoin impairment charges caused by a d...