Riot Blockchain Ends Q3 2021 With US$64.8 Million In Revenue, US$15.3 Million Net Loss

Riot Blockchain, Inc. (Nasdaq: RIOT) reported late Monday its financial results for Q3 2021. The results highlighted US$64.8 million in revenue, an increase from Q3 2020’s revenue of US$2.5 million.

Revenue share from cryptocurrency mining came in at US$53.6 million, while US$11.2 million came from data center hosting services. The firm also produced 1,292 bitcoin for the quarter, up from last quarter’s 675 bitcoin and last year’s 222 bitcoin.

But with total operating expenses amounting to US$69.0 million, the firm notched an operating loss of US$4.2 million. Further, the quarter ended with a net loss of US$15.3 million, mainly due to an unrealized loss on marketable equity securities amounting to US$11.2 million. The quarterly loss is a decline from last year’s net loss of US$1.7 million and translates to a loss of US$0.16 per diluted share.

Calibrating for financial items, including a stock-based compensation expense of US$36.0 million, adjusted EBITDA for the quarter ended at US$37.6 million compared to negative US$0.4 million last year.

The firm ended the quarter with US$57.9 million in cash and cash equivalents compared to a beginning balance of US$223.4 million at the start of the year. The current assets came in at US$179.0 million at the end of the quarter while current liabilities ended at US$25.6 million.

Riot Blockchain last traded at US$42.09 on the Nasdaq.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Bitcoin Miners Dramatically Outperformed Bitcoin Over The Last Six Months

Given the explosive performance of Bitcoin over the past six months, and the even more...

Wednesday, January 20, 2021, 11:57:00 AM

Riot Blockchain Purchase Could Be A Positive for Smaller Canadian-Listed Crypto Miners

On April 8, Riot Blockchain, Inc. (NASDAQ: RIOT), a highly valued U.S.-based Bitcoin miner, reached...

Sunday, April 18, 2021, 09:00:00 AM

Riot Blockchain Mines 425 Bitcoin In December 2021, Bats For 12.8 EH/s Hashrate In 2022

Riot Blockchain, Inc. (Nasdaq: RIOT) reported on Wednesday its production updates for December 2021. The...

Thursday, January 6, 2022, 11:48:00 AM

Bitfarms Announces Uptick in Monthly Bitcoin Production; Market Ignores Growth

On November 1, Bitfarms Ltd. (TSXV: BITF) reported that it mined 343 Bitcoin in October,...

Tuesday, November 2, 2021, 03:38:00 PM

Riot Blockchain Mines 406 Bitcoin In September 2021

Riot Blockchain, Inc. (Nasdaq: RIOT) reported on Tuesday its production updates for September 2021. The...

Wednesday, October 6, 2021, 11:22:00 AM