Bitcoin miner RiotBlockchain said 2022 will be the year of consolidation as it beat analyst estimates for 2021 sales. Reports Aoyon_A
A close-up of one of Riot's mining rigs.
One of the largest publicly traded bitcoin miners, Riot Blockchain sees this year as the “year of consolidation in the Bitcoin mining industry" and expects the company to potentially benefit from such a trend.continuously evaluating strategic opportunities" which it may decide to undertake as part of its strategic growth initiatives, company said in a Securities and Exchange Commission The miner reported 2021 revenue of $213.
A rise in the company's hashrate and bitcoin price helped the company's revenue in 2021, the miner said. The company reported a net loss of $7.9 million in 2021, versus a net loss of $12.7 million in 2020. The net loss for the fiscal year 2021 was significantly impacted by non-cash stock-based compensation expense of $68.5 million and a non-cash, unrealized loss of $36.5 million on impairment of cryptocurrencies,Riot also increased the bitcoin held on the balance sheet by 353% in 2021, compared to 1,078 in 2020.
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