Bitcoin miner Riot Platforms miss estimates with wider Q2 loss
Riot managed to increase its revenue from Bitcoin mining despite reporting a staggering 340% increase in costs to mine a Bitcoin.
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Riot managed to increase its revenue from Bitcoin mining despite reporting a staggering 340% increase in costs to mine a Bitcoin.
Riot says the deal will immediately add one exahash per second to its self-mining hashrate and expands its footprint in the United States.
Expanding the number of Bitcoin machines or facilities “makes no sense” if profitability margins don’t increase, TeraWulf’s Kerri Langlais stressed.
Riot’s hash rate of 22 EH/s surpassed CleanSpark and Core Scientific and now only trails Marathon Digital’s 31.5 EH/s.
Bitfarms increased its online hashrate to 10.4 exahashes per second in June, marking a 39% month-on-month increase.
It adds to a prior agreement in which Riot bought 33,280 miners from MicroBT. The term sheet was also updated, allowing Riot to buy another […]
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