Riot posts Q2 net loss of $84.4M; revenue down 9% YoY; raises 2024 hash rate guidance to 36 EH/s

Riot Platforms, Inc.

2024-Q2 EPS reported $0.51 revenue$149,314,000

Total revenue $70.0M (-9% YoY); Bitcoin mining revenue $55.8M (+12% YoY); engineering revenue $9.6M (-50% YoY).
Net loss $(84.4)M ($0.32 loss per share) vs $(27.4)M loss in Q2 2023; non-GAAP Adj. EBITDA $(75.2)M vs $24.3M.
Produced 844 Bitcoin (-52% YoY due to halving); avg. direct cost to mine $25,327 vs $5,734; power credits $13.9M.
Deployed hash rate 22.0 EH/s at quarter-end; raised 2024 target to 36 EH/s (from 31 EH/s) after Block Mining acquisition.
Acquired Block Mining (60 MW, potential >300 MW) in July; sold $577M in ATM stock in 2024 through July 29.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.