Castle Rock, Colo.-based cryptocurrency miner Riot Blockchain reported earnings for the June quarter Monday, noting a decrease in mining revenue from a year ago.
- Quarterly mining revenue from mining was $1.9 million, down nearly 20% from a year ago when the company reported $2.4 million in quarterly mining revenue.
- "We're strong believers in the macroeconomic fundamentals underlying bitcoin," McGonegal said in email correspondence with CoinDesk.
- Riot reported a current mining capacity of 357 petahash per second, up more than 250% from 101 petahash per second last year.
- Despite an increase in mined bitcoin and the cryptocurrency’s more-than-200% rally from March lows, Riot’s cash and cryptocurrency corporate liquidity dropped from $18 million last year to $16.4 during the June 2020 quarter.
- Riot shares were trading hands at $4.12 at Monday's close, down 3% from the daily open. They've risen 40% since August 1.
Update (August 11, 19:56 UTC): This article has been updated to reflect 227 bitcoins mined in the Q2, not 508 as was previously reported. Current mining capacity was also updated to 357 petahash per second instead of 556.
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