**Riot Platforms' Q2: A Rollercoaster Ride for Bitcoin Miners 🎢**

- **Missed Estimates**: Riot Platforms reported a Q2 net loss of $84.4M, double the expected $0.16 per share loss.

- **Revenue Dip**: Revenue fell 8.75% YoY to $70M, missing forecasts due to lower engineering revenues.

- **Mining Costs Soar**: Cost to mine Bitcoin skyrocketed 340% from $5,734 to $25,327.

- **Production Drop**: Bitcoin mining production fell 52% to 844 BTC.

- **Hash Rate Boost**: Installed hash rate nearly doubled to 22 EH/s, aiming for 36 EH/s by year-end.

- **Acquisition Moves**: Riot bought 10M Bitfarms shares but failed in a $950M buyout attempt.

- **Market Reaction**: Riot’s share price dipped 1.18% post-report, down 33.8% in 2024.