Riot Blockchain, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 06:18 pm EDT
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Riot Blockchain, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 46.15 million compared to USD 31.45 million a year ago. Revenue was USD 72.95 million compared to USD 34.35 million a year ago. Net loss was USD 366.33 million compared to net income of USD 19.34 million a year ago. Basic loss per share from continuing operations was USD 2.81 compared to basic earnings per share from continuing operations of USD 0.22 a year ago. Diluted loss per share from continuing operations was USD 2.81 compared to diluted earnings per share from continuing operations of USD 0.22 a year ago.
For the six months, sales was USD 104.1 million compared to USD 54.62 million a year ago. Revenue was USD 152.73 million compared to USD 57.55 million a year ago. Net loss was USD 330.71 million compared to net income of USD 26.87 million a year ago. Basic loss per share from continuing operations was USD 2.67 compared to basic earnings per share from continuing operations of USD 0.31 a year ago. Diluted loss per share from continuing operations was USD 2.67 compared to diluted earnings per share from continuing operations of USD 0.31 a year ago.
Riot Platforms, Inc. is a vertically integrated bitcoin mining company principally engaged in enhancing its capabilities to mine bitcoin in support of the bitcoin blockchain. It also provides comprehensive and critical mining infrastructure for institutional-scale hosted clients to mine bitcoin at its Rockdale Facility. The Rockdale Facility provides over 700 megawatts in total developed capacity for its bitcoin mining and data center hosting services for institutional-scale hosted clients. It operates through three segments: Bitcoin Mining, Data Center Hosting, and Engineering. Its Bitcoin Mining segment operates approximately 112,944 miners, with a hash rate capacity of 12.4 exahash per second (EH/s). Its Data Center Hosting segment operates at its Rockdale Facility and focuses on providing co-location services for institutional-scale bitcoin mining companies. Its Engineering segment designs and manufacturers power distribution equipment and custom engineered electrical products.