Long-Awaited Bitcoin Accounting Rules to Capture Rises, Dips (2)
Sep 7, 2023
Riot Reports Second Quarter 2022 Financial Results, Current Operational and Financial HighlightsRiot Reports Q2 2022 Results, with $72.9 Million in Total Revenue, 1,395 BTC Produced, and Strengthened Financial PositionCASTLE ROCK, Colo., Aug. 15, 2022 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot,” or “the Company”), an industry leader in Bitcoin (“BTC”) mining and data center hosting, reported financial results for the three-month period ended June 30, 2022. Non-GAAP Adjusted EBITDA for the quarter ended June 30, 2022 was $(65.2) million, as compared to Non-GAAP Adjusted EBITDA of $2.4 million for the same three-month period in 2021. Second Quarter 2022 and Recent Operational HighlightsAs of June 30, 2022, the Company had a deployed fleet of 44,720 ASIC miners, with a hash rate capacity of 4.4 EH/s. In addition to the Company’s self-mining operations, Riot hosts approximately 200 MW of institutional Bitcoin mining clients. 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.
