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Sep 30, 2021
Riot Q3 2021 Earnings Report
Riot reported record financial results driven by focus on bitcoin mining.
Key Takeaways
Riot Blockchain reported record third quarter financial results, driven by increases in the price of Bitcoin and the deployment of new generation miners. The company's mining revenue margin was $40.6 million, and adjusted EBITDA was $37.6 million.
Mining revenue margin was $40.6 million (76% of mining revenue), compared to $1.1 million (47% of mining revenue) for the same three-month period in 2020.
Net loss for the quarter ended September 30, 2021, was $15.3 million, or ($0.16) per share, as compared to a net loss of $1.7 million, or $(0.04) per share, in the same three-month period in 2020.
Adjusted EBITDA for the quarter ended September 30, 2021, was $37.6 million, as compared to an Adjusted EBITDA loss of $0.4 million for the same three-month period in 2020.
By Q4 2022, Riot anticipates a total self-mining hash rate capacity of 8.6 EH/s.
Riot
Riot
Forward Guidance
Riot anticipates a total self-mining hash rate capacity of 8.6 EH/s by Q4 2022, not including any expected incremental productivity gains from the Company’s utilization of 200 MW of immersion-cooling infrastructure and assuming full deployment of approximately 90,150 Antminer ASICs.