Riot Blockchain's Q2 Revenue Up 1500% Compared to Q2 2020

by in Blockchain News

Riot blockchain revenue

Colorado-based BTC mining company Riot Blockchain announced the results of the second quarter of 2021.

The press release issued on August 23 indicates that the company's mining revenue reached $31.5 M which means a 1540% growth compared to last year's $1.9 M.

70% of the revenue, which is $19.3 M, was the company's net income in Q2, 2021. In 2020, for the same interval Riot stated a net loss of $10.6 million.

The company's CEO Jason Les stated that the progress is the result of Riot's absolute focus on BTC mining and expanding its mining services.

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In April, Riot acquired North America's largest Bitcoin hosting facility Whinstone, thus boosting its capacity. Whinstone will deliver the essential framework that will help the company’s constant growth.

Les noted that with the move, the risks related to the company's future operations were reduced and coming finance possibilities are very exciting. Riot Blockchain, founded in July 2000, continues to grow,

After Q2 results were published, Riot's shares surged. Currently, the stock trades at around $37 have increased by over 5% in the last day. The stock’s market cap surpassed 3,6 B.