Bitcoin (BTC) mining company Riot Blockchain has changed its name to Riot Platforms for rebranding.
The decline of the cryptocurrency market throughout the year has negatively impacted many Bitcoin mining companies. One of these companies, Riot Blockchain, attracted attention with the loss of revenue in the third quarter. However, the company managed to survive with working conditions and asset management. Finally, Riot Blockchain has changed its name as part of the rebranding. The company’s new name was changed to Riot Platforms.
Bitcoin Mining Company Riot Rebranded for Commercial Operations
Riot Blockchain, one of the largest Bitcoin (BTC) mining companies in the industry, has been rebranded. The company removed the phrase “Blockchain” from its name and replaced it with the phrase “Platforms”.
The company, which continues its services under the name Riot Platforms, made such a choice to reflect its diversified commercial operations. “The scope and scale of our businesses continue to expand, and this rebranding better reflects our position as strategic distributors of capital to gradually expand the scope of our Bitcoin-focused operations,” said Jason Les, CEO of the company.
The popular BTC miner aims to achieve more reflection in the industry under the name Riot Platforms. In the challenging crypto mining processes, this step taken by Riot attracted attention.