tl;dr
Riot Platforms, Inc. (NASDAQ:RIOT) reported FY GAAP EPS of -$0.28, beating expectations by $0.69, but missed revenue at $280.7M ( 8.3% Y/Y) by $7.66M. Bitcoin Mining revenue for the year was $189.0M, compared to $156.9M in 2022, while Data Center Hosting revenue decreased to $27.3M from $36.9M in th...
Riot Platforms, Inc. (NASDAQ:RIOT) reported FY GAAP EPS of -$0.28, beating expectations by $0.69, but missed revenue at $280.7M ( 8.3% Y/Y) by $7.66M. Bitcoin Mining revenue for the year was $189.0M, compared to $156.9M in 2022, while Data Center Hosting revenue decreased to $27.3M from $36.9M in the same period. Engineering revenue also saw a slight decrease to $64.3M from $65.3M. The company plans to bring new buildings online in 2024 and 2025, which is expected to significantly increase its self-mining hash rate. Despite the impact of the Company’s power strategy, it produced 6,626 Bitcoin, a 19% increase from 2022. This indicates a strong performance in Bitcoin production, but the decrease in hosting revenue could be a cause for concern in the future.
More about Riot Blockchain Inc
Riot Blockchain Inc (RIOT) is a company focused on cryptocurrency mining operations in North America. The stock has shown a bearish trend with a decline of 1.8% and a relative strength index (RSI) of 1.582. The company's market cap stands at $262 million with a stock price of $18.63. Despite a recent breakout, the stock's performance has been relatively volatile with a Bollinger Bands reading of 2.333. The market sentiment towards RIOT appears to be neutral with a slight bullish inclination, however, past market behavior suggests potential risks and uncertainties in future performance.
Disclaimer: The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.