Why did Riot Blockchain stock drop today? Wider Q3 loss, Bitcoin dip

Shares of Riot Blockchain (NASDAQ:RIOT) drop 13% on Tuesday after the company posted worse-than-expected Q3 results. Still, revenue and mining revenue margins improved as the price of Bitcoin (BTC-USD) climbs during the third-quarter, as well as the addition of new generation miners. The new crypto miners helped Bitcoin (BTC-USD) production surge 482% to a record 1,292 Bitcoin in Q3, compared with just 222 BTC in the same period a year ago. Perhaps the broad crypto market sell-off is impacting Riot's stock price as well. Bitcoin (BTC-USD) falls 7% so far today, cracking below $60K key level. Ethereum (ETH-USD) -11.3%, Binance Coin (BNB-USD) -9%, Solana (SOL-USD) -8.5% and Cardano (ADA-USD) -18.5% are all trading deep in the red. In contrast, on a Y/Y basis, the largest cryptos in the world soar as much as 9,974%, with Bitcoin (BTC-USD) +262% lagging its peers the most, according to the chart below. Earlier, Bitcoin slides toward $60K as crypto market drops.