Summary by Moomoo AI
Riot Platforms, a vertically integrated Bitcoin mining company, has released its annual financial report for the year ended December 31, 2023. The company reported a significant increase in Bitcoin mining revenue, which rose to approximately $189.0 million, up from $156.9 million in the previous year. This increase was attributed to a 19.3% rise in the number of Bitcoin mined due to an expansion in miners deployed. Data Center Hosting revenue, however, saw a decrease to $27.3 million from $36.9 million in the previous year, while Engineering revenue slightly dropped to $64.3 million from $65.3 million. Riot Platforms' total revenue for the year was $280.7 million, compared to $259.2 million in 2022. The company also reported a net loss of $49.5 million, which included non-cash income items such as Bitcoin revenue and a...Show More