Second-Quarter Earnings
Revenue rose 14% year over year to $174.2 million, beating the $152.1 million analyst estimate. Riot reported an adjusted EBITDA loss of $69.7 million, compared with adjusted EBITDA of $495.3 million a year earlier.
The results included more than $240 million in noncash charges, including a $75 million Bitcoin mark-to-market loss, $98 million in depreciation and amortization and a $28 million impairment related to construction assets at its Rockdale mining facility.
Riot ended the quarter with 11,380 Bitcoin (CRYPTO: BTC/USD) valued at about $666 million and more than $1.2 billion in liquidity, including $549 million in cash.
Data Center Business Gains Momentum
