Bitcoin Miner Riot Takes $349M Goodwill Impairment Charge on Acquisitions

Riot Blockchain Sees 2022 as Year of Consolidation in Bitcoin Mining Sector

“Although challenging global market conditions in the second quarter, further impacted by a steep decline in the price of Bitcoin and resulting decline in market valuations for publicly-traded Bitcoin miners, including Riot, necessitated non-cash impairment charges this quarter, these non-cash charges had no impact on our solid financial position and ample liquidity, both of which were further strengthened this quarter,” said CEO Jason Les in a statement.

Source link

Be the first to comment

Leave a Reply

Your email address will not be published.