Riot Blockchain (NASDAQ: RIOT), an industry leader in bitcoin (“BTC”) mining and data center hosting, has released financial results for the three-month period ended Sept. 30, 2022. “Our results this quarter are a strong testament to the benefits of Riot’s vertically-integrated and diversified business model, which is further complemented by our conservative financial approach,” said Jason Les, CEO of Riot. “Despite rising energy prices, which significantly impacted many bitcoin miners, Riot was able to leverage our long-term fixed rate power contract to generate significant power credits and, in doing so, significantly reduce our operating costs. Additionally, our strong liquidity position has enabled us to remain focused on executing our growth plans and achieving new records in hash rate capacity, as we work towards our goal of becoming the world’s leading bitcoin-driven infrastructure platform.”
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About Riot Blockchain Inc.
Riot Blockchain’s vision is to be the world’s leading bitcoin-driven infrastructure platform. The company’s mission is to positively impact the sectors, networks and communities that it touches. Riot believes that the combination of an innovative spirit and strong community partnership allows the company to achieve best-in-class execution and create successful outcomes. Riot is a bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. The company has bitcoin mining data center operations in central Texas, bitcoin mining operations in central Texas, and electrical switchgear engineering and fabrication operations in Denver, Colorado. For more information, visit www.RiotBlockchain.com.
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