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News Explorer — Riot Platforms Reports $84.4 Million Loss Due to Decline in Bitcoin Mining

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Aug 1, 1:35 am
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Riot Platforms Reports $84.4 Million Loss Due to Decline in Bitcoin Mining

Riot Platforms, a NASDAQ-listed Bitcoin miner, reported a net loss of $84.4 million in its latest quarterly financial report. The loss was primarily due to a 52% decline in the number of Bitcoin mined and increased costs resulting from the recent Bitcoin halving. Despite the losses, Riot achieved a mining revenue of $55.8 million, pointing to a higher average Bitcoin price.

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