{"id":8508,"date":"2021-08-24T11:11:15","date_gmt":"2021-08-24T10:11:15","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=8508"},"modified":"2021-08-24T11:11:42","modified_gmt":"2021-08-24T10:11:42","slug":"riot-blockchains-q2-revenue-reports-a-1540-increase-from-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/riot-blockchains-q2-revenue-reports-a-1540-increase-from-bitcoin-mining\/","title":{"rendered":"Riot Blockchain’s Q2 revenue reports a 1,540% increase from Bitcoin mining"},"content":{"rendered":"\n
Riot Blockchain, a major publicly traded Bitcoin mining compan<\/a>y, has claimed record sales for the second quarter of 2021 to be netted at $19.3 million.<\/h5>\n\n\n\n
\"Riot<\/figure>\n\n\n\n

The U.S.-based company recorded $31.5 million in mining-related revenues\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> for the three-month period in its quarterly financial report on Aug. 23, up about 1,540 percent from its Q2 2020 revenue of $1.9 million.<\/p>\n\n\n\n

Mining revenues soared, resulting in a quarterly net income of $19.3 million, a new high. The corporation, on the other hand, lost $10.6 million in the second quarter of 2020.<\/p>\n\n\n\n

Riot's cash and Bitcoin assets were $195.4 million as of June 30, 2021. The firm's unaudited BTC balance was 2,687 BTC (about $132.6 million) as of July 31.<\/p>\n\n\n\n

Riot also claimed a 38% rise in the overall number of BTC it mined compared to the previous quarter, with 675 BTC generated versus 491 BTC in Q1.<\/p>\n\n\n\n

Jason Les, CEO of Riot Blockchain, attributed the company's strong performance<\/a> to its early April acquisition of Whinstone U.S., the world's largest Bitcoin mining operation based in Texas, saying:<\/p>\n\n\n\n

\u201cRiot is aggressively expanding its capacity at Whinstone, which is expected to provide the critical infrastructure necessary to successfully execute on driving continued growth for the company.\u201d<\/p>\n\n\n\n

Riot began a 400-megawatt expansion at Whinstone in the second quarter, with four buildings totalling roughly 240,000 square feet now under development. Riot paid $650 million for the facility.<\/p>\n\n\n\n

Riot's Bitcoin production had increased by 80 percent since the pre-halving, according to Cointelegraph in April. In the same month, Bitmain sold the company<\/a> another 42,000 Antminers, completing its growth.<\/p>\n\n\n\n

Riot's stock jumped 7.6% from Friday's close of $34.32 to $36.93 on Monday as a result of the news.<\/p>\n","protected":false},"excerpt":{"rendered":"

Riot Blockchain, a major publicly traded Bitcoin mining company, has claimed record sales for the second quarter of 2021 to be netted at $19.3 million. The U.S.-based company recorded $31.5 million in mining-related revenues for the three-month period in its quarterly financial report on Aug. 23, up about 1,540 percent from its Q2 2020 revenue […]<\/p>\n","protected":false},"author":12,"featured_media":8510,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[152,370,3980,3979],"class_list":["post-8508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-mining","tag-revenue","tag-riot-blockchain"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Riot-Blockchains-Q2-revenue-reports-a-1540-increase-from-Bitcoin-mining.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=8508"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8508\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/8510"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=8508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=8508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=8508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}