Riot Blockchain called 2022 the year of consolidation in the mining industry
For 2021, the company’s revenue amounted to $213,2 million, which is 1 665% more than the year before
17.03.2022 - 13:40
312
1 min
0
What’s new? The mining company Riot Blockchain believes that 2022 will be the year of consolidation in the mining industry. The company’s representatives voiced this opinion in a report to the US Securities and Exchange Commission (SEC). Riot Blockchain reported that it is “continuously evaluating strategic opportunities” that can be used for the development of the company. Its revenue in 2021 was $213,2 million, up 1665% from 2020. Riot Blockchain increased revenue through the growth in the company’s hashrate and the value of BTC.
Link to Riot Blockchain’s annual report
What information is in the report to the SEC? The company reported a net loss of $7,9 million in 2021. This was effected by an unrealized loss of $36,5 million for the cryptocurrency depreciation. The company also increased the number of bitcoins on its balance sheet by 353% in 2021. As of the end of February, Riot Blockchain had 5783 mined BTC in its wallets. In addition, the company has confirmed its plans to ramp up its total equipment hashrate to 12,8 EH/s by the end of 2022.
What is known about the company? Riot Blockchain Inc. is an organization that is engaged in the mining of cryptocurrencies. The company owns data centers in Texas and New York State. As of early 2022, Riot’s equipment has a hashrate of 3,0 EH/s, with a 91 MW of power consumption.
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$87 461
BTC
-3%
-
Ethereum
$3 030.38
ETH
-6.46%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Dogecoin
$0.358257
DOGE
-8.92%
-
Ripple
$0.807376
XRP
+15.07%
-
Cardano
$0.58427
ADA
+1.71%
-
Bitcoin Cash
$412.75
BCH
-6.1%
-
Polkadot
$4.75
DOT
-7.31%
-
Litecoin
$79.62
LTC
-0.54%
-
Stellar XLM
$0.13243
XLM
+6.67%