Thursday, March 2, 2023

RIOT 2022 ER released 3/2 AH

Details here: https://www.riotplatforms.com/investors/news-events/press-releases/detail/147/riot-reports-full-year-2022-financial-results-current

Over a third of a billion on hand in cash and bitcoin at the end of the year.

Costs to mine well under 50% of bitcoin's current value.

Bankruptcy when? Oh that's right, there is no long-term debt! Any bear that entered their positions thinking BK was on the table should be closing their positions soon, if they weren't already margin called on the rip from the mid-$3s to high-$7s.

Data center hosting continues to drag the company down. What a missed opportunity this is and terrible for investors knowing it was a $10M operating loss (in cash). That was the equivalent of 1.5M shares they could have used elsewhere or 500 more bitcoin that they could have in their wallet.

This has to stop.


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