Shares of crypto mining company Riot Blockchain (RIOT) plunged on Thusday, giving back a portion of a parabolic rally that was largely driven by news of a major boost in hash rate capacity.

Riot fell twenty.4% to shut at $62.03 on Thursday but was moving slightly higher in after-hours trading. At current values, Anarchism has a full market place capitalization of $4.ii billion, making it one of the largest companies in the blockchain industry.

The precipitous pullback follows a more than doubling in toll betwixt Feb. x and Feb. 17. The weeklong rally saw RIOT peak just beneath $78.00 before Thursday'due south pullback.

Since the beginning of the month, Riot's stock price has gained a whopping 202%.

RIOT'south 6-calendar month trajectory shows a strong uptrend for the stock. Nautical chart via TradingView

Anarchism began its most contempo parabolic rally shortly after the visitor appear it expected to attain a hash rate capacity of 1.06 exahash per second with the deployment of 2,002 S19 Pro Antminers.

On Feb. 11, CEO Jason Les said:

"While nosotros are proud of this accomplishment, we view it equally the successful completion of merely one of many steps of our ongoing growth plan. Riot continues to receive and deploy adjacent-generation miners from Bitmain and remains on schedule to more than triple our currently deployed capacity by the fourth quarter of 2021."

Just a few weeks prior, the company said it planned to achieve a hash rate capacity of three.8 exahash per second by the finish of 2021.

When Cointelegraph last covered Anarchism Blockchain in Nov 2020, the stock was trading at $6, having gained 500% on the year. At the time, the Colorado-based company had appointed Hubert Marleau, the former manager for the listing committee for the Toronto Stock Exchange, to Riot'south board of directors.