Is Riot Blockchain Stock Halal?
Table of Contents
How much of Riot Blockchain’s revenue comes from haram?
Riot earns its revenue from mining Bitcoin.
Practical Islamic Finance concludes:
None of Riot’s revenue comes from anything inherently haram.
Does Riot Blockchain rely on interest to operate?
| Year-to-Date for period ended 3/31/2021 | Fiscal year ended 12/31/2020 | Fiscal year ended 12/31/2019 | |
|---|---|---|---|
| Interest Income | $175 | $85 | $0 |
| Total Revenue | $23,197 | $12,081 | $6,837 |
| Interest Expense | $0 | $0 | $122 |
| Total Expenses | $15,842 | $31,398 | $16,919 |
| Interest Income / Revenue | 0.75% | 0.70% | 0% |
| Interest Expense / Total Expense | 0% | 0% | 0.72% |
Practical Islamic Finance concludes:
Riba is used but not relied upon in Riot’s operations.
What is Riot Blockchain’s Environmental, Social, and Governance (ESG) impact?
Environment
No notable environmental highlights.
Social
No notable social highlights.
Governance
In 2018, the SEC announced charges against the former CEO of Riot Blockchain for alleged market manipulation.
The CEO of Riot at the time, John O’Rourke, has since been replaced.
Comfort Rating
From Riot’s business, financial, and ESG reviews, Practical Islamic Finance rates Riot stock as:
Comfortable to invest in from a Halal perspective.
Sources
SEC: Former Riot Blockchain CEO agrees to settlement in principle for alleged ‘market manipulation’