Bitcoin Miner Riot Blockchain Hashrate reached an ATH in 2022
Bitcoin Miner Riot Blockchain Hashrate reached an ATH in 2022
The Bitcoin-Miner-Riot Blockchain-based in Colorado-reported a total turnover of almost $ 260 million in 2022, an increase of 22 % compared to 2021. increased.
The positive results come despite the devastating Baisse, which prevailed during most of the year, and Riot shrank in summer due to a heat wave.
against all resistances
uprising produces more bitcoin in 2021. However, the collapse of the cryptoma market was on BTC mining income, which amounted to $ 156 million, compared to the $ 184 million in the previous year.
CEO Jason Les described the performance of Riot in 2022 as "remarkable" and raised the ATH-Hash installment capacity of 9.7 EH/s (the number was 3.1 EH/s on December 31, 2021), the expansion in the Rockdale facility and highlighting a "strong financial Position ”.
"We have more than tripled our hash installment capacity, which led to numerous monthly production records, and ended the year with an all-time high of 9.7 EH/s at HASH installment capacity, which has been evidence of the hard work of our best-in class team all year round.
Three new buildings in our facility in Rockdale were completed in 2022, and a fourth is about to complete the expansion of our facility in Rockdale in the first quarter of 2023.
Riot also realized significant advantages from his energy strategy, which enabled him to reduce production costs. Despite the unsatisfactory state of the cryptocurrency sector, the company ended the year 2022 with around $ 230 million in cash and without long-term debt. At the end of the year, it held 6,974 BTC (currently worth over $ 156 million) and promised to continue its expansion plans by 2023
The results of the miner could have been even more impressive if the Texas region (where the majority of its mining is located) had not been hit in summer. As cryptopotato reported in July almost 30 % less Bitcoin than in June, because it had to switch off some of his machines than the temperatures around 40 degrees Celsius fluctuated. In addition to the positive mining performance, Riot reported a net loss of almost $ 510 million in 2022 (compared to only $ 15.4 million in 2021). The diluted net loss per share rose from $ 0.17 in 2021 to $ 3.65 last year. The persistent crypto winter has negatively affected Riot's shares, which currently have a value of around $ 6.20, which corresponds to a decline of 61 % compared to the previous year. . It is not all rainbow and sunshine