Riot Announced Annual Revenue In 2022, Hash Rate Capacity Increases Sharply
Riot Platforms, a bitcoin mining company, released its 2022 annual revenue with hash rate capacity has tripled compared with last year. The company stated that its revenue for the fiscal year ending December 2022 was $259.2 million, compared to $213.2 million for the same period in 2021.
The mining company produced a total of 5,554 Bitcoins during the reporting period, an increase of 46% compared to 3,812 in the same period in 2021. Bitcoin mining revenue was $156.9 million, compared to $184.4 million in the same period in 2021. Net loss of $509.6 million in 2022 compared to a net loss of $15.4 million in the same period in 2021 was significantly impacted by non-cash impairment charges totaling $538.6 million, including $335.6 million related to the 2021 Whinstone and ESS Metron acquisitions Reputation impairment, $147.4 million in cryptocurrency holdings.
Source
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