Bitcoin Miner Riot Blockchain's Q2 Net Loss Exceeds $360 Million

Bitcoin mining company Riot Blockchain has released its financial report for the second quarter of 2022. According to the financial report, Riot’s total revenue in the second quarter increased by 112% year-on-year to US$72.9 million, mining revenue increased by 47% year-on-year to US$46.2 million, and Bitcoin production increased by 107% year-on-year to 1395. But Riot recorded a net loss of $366.3 million in the second quarter, including a $349.1 million goodwill impairment, a $99.8 million bitcoin impairment, and a $4.8 million loss on marketable securities. Additionally, Riot sold some of its bitcoins in the second quarter and made $14.4 million in revenue.