Although Riot Blockchain has less than two bucks a share in net working capital (fully diluted) -- and has accumulated a deficit of $120 million while trying to market fertility hormones for cows, horses and pigs -- it says it now has investments in several blockchain businesses. Last week, Riot invested an undisclosed amount in a company that brings "thought leadership" to the audit of blockchain based assets. It also has a scientific advisory board and about a dozen affluent investors who registered 5.6 million shares for sale in August, when the outfit was still calling itself Bioptix and the shares fetched just $3.50 each.
In announcing its latest deal, Riot chief executive John O’Rourke seemed happy with his company's new direction. “With recent highs in Bitcoin and other cryptocurrency valuations," he said, "there is significant market potential for blockchain and digital asset technologies."