Welcome to our dedicated page for Riot Platforms news (Ticker: RIOT), a resource for investors and traders seeking the latest updates and insights on Riot Platforms stock.
Riot Platforms, Inc. reports developments tied to its Bitcoin mining operations, large-scale data center business, power portfolio, and engineering capabilities. The company operates Bitcoin mining facilities in central Texas and Kentucky and maintains engineering and fabrication capabilities in Denver and Houston, with revenue historically centered on Bitcoin mining and engineered electrical products.
Recurring Riot news includes quarterly and annual financial results, Bitcoin production and hash-rate updates, power and demand-response credits, data center lease activity, site ownership and development at Rockdale, and collaborations involving high-density computing infrastructure. Company updates also cover earnings calls, shareholder communications, governance matters, and the use of power assets to support Bitcoin mining and non-mining data center workloads.
Riot Blockchain (NASDAQ: RIOT) reported its financial results for Q2 and year-to-date June 30, 2020. The company achieved a 11% revenue increase to $4.3 million compared to the same period in 2019. Riot's Bitcoin mining capacity is set to rise by 129%, reaching 566 PH/s. Despite downtime from facility relocation and the May halving event, Riot produced 508 bitcoins. SG&A expenses decreased by 29%, while total stockholders' equity rose to $27.8 million. However, the company reported a net loss of $14.9 million, impacted by a $9.4 million impairment related to Coinsquare.
Riot Blockchain (NASDAQ: RIOT) has received the first batch of 1,000 S19 Pro miners from Bitmain, part of a larger order totaling 3,040 units. This enhancement at Coinmint's facility in Massena, New York, will boost Riot's hashing power by 45%, reaching approximately 357 PH/s. Once fully deployed, the company expects to achieve a hash rate of about 566 PH/s, reflecting a 129% increase. The CEO announced the completion of the initial transformation phase, including debt elimination and operational improvements, and aims to exceed a hash rate of 1 EH/s by early 2021.