CryptoWhistle - Crypto Currency Tracker logo CryptoWhistle - Crypto Currency Tracker logo
Seeking Alpha 2021-08-23 20:51:42

Riot Blockchain stock advances 3% after Q2 earnings beat; installs more miners

Riot Blockchain (NASDAQ:RIOT) stock rises 2.6% in after-hours trading after the Bitcoin miner Q2 earnings beats the consensus estimate and sets out expectations for its hashrate after installing new machines. Q2 EPS of $0.22 exceeds the average analyst estimate of $0.03 and improved from a loss of $0.31 per share in the year-ago quarter. Q2 mining revenue of $31.5M jumped from $1.9M in the year-ago quarter. After the end of Q2 Riot Blockchain installed ~4,600 S19 Pro Antminers, resulting in a fleet of 20,746 miners deployed; the company's current hashrate if ~2.07 exahash per second. The company said 2,000 S19 Pro Antminers were shipped in late July and will be deployed at its Whinstone site in coming weeks. By early September, it expect to have 25,946 Antminers in operation, utilizing ~83 MW of energy, with an estimated has rate capacity of 2.6 EH/s. Earlier, Riot Blockchain EPS beats by $0.19, beats on

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.