Riot Platforms Reports Second Quarter 2023 Financial Results, Current Operational and Financial Highlights

August 10, 2023

Produced 1,775 Bitcoin during the quarter, as compared to 1,395 Bitcoin during the same three-month period in 2022. Second Quarter 2023 Financial ResultsTotal revenue for the three-month period ended June 30, 2023 was $76.7 million, and consisted of $49.7 million in Bitcoin Mining revenue, $7.7 million in Data Center Hosting revenue, and $19.3 million in Engineering revenue. Bitcoin Mining cost of revenues consist primarily of direct production costs of mining operations, including electricity, labor, and insurance, but excluding depreciation and amortization. Riot is a Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. The Company has Bitcoin mining data center operations in central Texas, Bitcoin mining operations in central Texas, and electrical switchgear engineering and fabrication operations in Denver, Colorado.

The source of this news is from Riot