Riot Reports Third Quarter 2022 Financial Results, Current Operational and Financial Highlights

Riot Reports Third Quarter 2022 Financial Results, Current Operational and Financial HighlightsRiot Reports Q3 2022 Results, with $46.3 Million in Total Revenue, 1,042 Bitcoin Produced, $13.1 million in Power Credits, and Record Hash Rate CapacityCASTLE ROCK, Colo., Nov. 07, 2022 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot,” or “the Company”), an industry leader in Bitcoin mining and data center hosting, reported financial results for the three-month period ended September 30, 2022. Third Quarter 2022 Financial ResultsMining revenue in excess of mining cost of revenues, was $7.4 million (33% of mining revenue), compared to $40.6 million (76% of mining revenue) for the same three-month period in 2021. Non-GAAP Adjusted EBITDA for the quarter ended September 30, 2022 was $0.2 million, as compared to Non-GAAP Adjusted EBITDA of $37.5 million for the same three-month period in 2021. 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.