๐DeFi enthusiasts, buckle up! Riot Platforms (RIOT), a big-shot bitcoin miner, just released its Q2 earnings.๐Adjusted EPS loss was $0.17, beating estimates, but revenue fell short at $76.7M.๐ฐ
๐ฅQ2 revenue was up from last year, thanks to a 27% increase in bitcoin production.๐But don't get too excited - lower bitcoin prices put a damper on the party.๐
๐คRiot shares are up 383% this year, riding the bitcoin wave.๐โโ๏ธCEO Jason Les says their "unmatched scale" drove mining costs down to $8,389 per Bitcoin.๐ช
๐ฎRiot predicts 2023 will be a year of consolidation in the bitcoin mining industry, and they're ready to benefit from it.๐They also expect to reach 20.1 EH/s hash rate capacity by mid-2024.๐
๐คWhat do you think about Riot's future in the DeFi world? Share your thoughts in the comments!๐ #DeFi #Web3 #RiotPlatforms
