Mining company Riot Platforms reported a net loss of $84.4 million in the second quarter
ChainCatcher news, Bitcoin mining company Riot Platforms released its earnings report indicating a net loss of $84.4 million for Q2, compared to a net loss of $27.4 million for the same period in 2023. This quarter's net loss includes a Bitcoin fair value change loss of $76.4 million, non-cash stock compensation expenses of $32.1 million, and depreciation and amortization expenses of $37.3 million.
The non-GAAP adjusted EBITDA for this quarter was -$75.2 million, while it was $24.3 million for the same period in 2023.
As of June 30, 2024, Riot Platforms holds 9,334 unencumbered Bitcoins, all of which are from the company's self-mining operations.
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