Riot Bags $84M Q3 Gains, Hash Rate Dreams Get a Reality Check
Riot’s Q3 just popped off with $84.8M in revenue - a 65% boost from last year, even with Bitcoin’s halving crunch.
With a juiced-up hash rate of 28 EH/s, they kept mining 1,104 BTC, on par with last year’s output.
Despite these gains, Riot faced a $154.4M net loss this quarter, mainly from paper losses on stocks, depreciation, and stock-based comp.
Source: Mario Nawfal