Bitcoin Miner Riot Posts $84 Million Quarterly Loss as Post Halving Era Bites
Riot Platforms, a NASDAQ-listed Bitcoin miner, reported a net loss of $84.4 million in its latest quarterly financial report, even as the price of the world’s largest crypto remained relatively stable. Instead, its loss was primarily driven by a 52% year-over-year (YOY) decline in the number of Bitcoin mined between April 1 and June 31, Riot said Wednesday. Riot also reported a non-cash stock-based compensation expense of $32.1 million, along with depreciation and amortization costs amounting to...