Cryptocurrency mining firm posts massive $58M loss

2019-4-3 17:25

Bitcoin and other cryptocurrencies might have had a good week so far, but it’s not quite enough to make up for this Nasdaq-listed cryptocurrency mining firm‘s 2018 losses. In its 2018 financial report, released yesterday, cryptocurrency mining firm Riot Blockchain posted a $58 million loss.

According to the report, the firm generated $7. 7 million in mining revenue, earning 1,081 Bitcoin (including conversions from Bitcoin Cash) and 3,023 Litecoin. This was done at its facility in Oklahoma City, where it’s been operating 8,000-plus miners since last June. Despite the huge losses, Riot was able to maintain a positive gross margin of…

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2019-2-19 16:53


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