Riot Platforms (RIOT) reported a tripling of its second-quarter losses compared to last year.

- Net loss amounted to $84.4 million, or $0.32 per share.

- Selling, general and administrative expenses increased 48% to $61.2 million.

- The bulk of expenses are related to stock compensation under a long-term incentive program.

- A decrease in the value of Bitcoin by $76.4 million also affected the losses.

- The April Bitcoin halving reduced miner rewards by 50%, which led to a 52% decrease in production to 844 BTC.

- Bitcoin mining costs increased to $25,327 due to a 68% increase in network hashrate.

- RIOT shares fell 0.3% in pre-market trading.

- Bitcoin is down 2.7% over the past 24 hours, while the CoinDesk 20 Index is down 4.5%.