Riot Blockchain, one of the world’s largest Bitcoin (BTC) miners, for the second quarter of the year $366.3 million loss declared
This loss in Riot Blockchain’s financial statement is largely due to the assets on the company’s balance sheet. because of its depreciation originates.
Value of bitcoins on company balance sheet in the second quarter $99.8 million drop showed.
Riot Blockchain dropped 0.7% in the second quarter compared to the previous quarter, overall 1,395 bitcoins produced.
The company’s total revenue during the quarter is also decreased 8.7% and $72.9 million it happened. According to the statement of Riot Blockchain, among the reasons for this decrease the fact that both the bitcoin price has fallen and the mining costs have increased there is.
Riot Blockchain still rates the hash rate in three months. 2.3% and reached a capacity of 4.4 EH/s. When the company reached this number in the first quarter of 2023, Having increased to 12.5 EH/s aims.
Jason Les, CEO of Riot Blockchain, said that despite the loss they suffered in the second quarter, they showed as a company. are satisfied with the “financial resilience” told.