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External ReportingPublicado hace 2 días

Riot Platforms Sells 4,300 Bitcoin To Fund Operations

Cryptocurrency miner Riot Platforms (NASDAQ: $RIOT) sold 4,300 Bitcoin (CRYPTO: $BTC) during the second quarter to help fund its ongoing operations.

Riot Platforms Sells 4,300 Bitcoin To Fund Operations
Publisher Yahoo Finance 1 min de lectura
Image via Yahoo Finance

Market Context

Bitcoin

BTC

$63,024

+0.07% 24h

Layer Index

43

Neutral

Layer Index

↑ 4 pts in 24h

Cryptocurrency miner Riot Platforms (NASDAQ: $RIOT) sold 4,300 Bitcoin (CRYPTO: $BTC) during the second quarter to help fund its ongoing operations.

In its latest earnings report, Riot Platforms said that the Bitcoin sale was also used to help fund its growing artificial intelligence (A.I.) data centre business. 

Despite the sale, Riot Platforms continues to hold 11,380 BTC worth $717.65 million U.S based on the current market price of the cryptocurrency. 

More From Cryptoprowl:

Management at the company said they ended the year's second quarter with more than $1.2 billion U.S. in liquid assets, including $548.9 million U.S. of cash.

Riot Platforms mined 1,587 Bitcoin in Q2, up from 1,426 mined a year earlier. Despite that increase, Bitcoin mining revenue fell 19% year-over-year to $113.7 million U.S. in Q2. 

The company's total cost to mine one Bitcoin reached $90,631 U.S., equal to 126.5% of the $71,667 U.S. production value of each coin mined during the quarter. 

Riot Platforms said the cost to mine Bitcoin is rising due to higher power costs and the ongoing expansion of its Kentucky mining facility.

RIOT stock has risen 69% over the last 12 months to trade at $19.58 U.S. per share.

Follow the Story

  1. Aug 13Riot Platforms Sells 4,300 Bitcoin To Fund Operations
  2. Aug 15Whale's Insight: Bitcoin Spot Volume Hits A 7-Year Low, A Late-Stage Bear? (BTC-USD)
  3. Aug 15Bitcoin tests $63K support after falling below $64K, needs $67K breakout for bullish momentum.
  4. Aug 15Strategy (MSTR) Is Down 7.0% After MSCI Reopens Review of Its Bitcoin-Focused Index Eligibility

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Originally reported by Yahoo Finance

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