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Riot Blockchain Reports Record First Quarter 2021 Financial Results, Current Operational and Financial Highlights

Nachrichtenquelle: globenewswire
17.05.2021, 23:28  |  165   |   |   

Castle Rock, CO, May 17, 2021 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot" or the "Company"), one of the leading Nasdaq-listed public Bitcoin (“BTC”) mining companies in the United States, reported financial results as of and for the three-months ended March 31, 2021. The unaudited financial statements are available on Riot's website and here.

  • Increased mining revenue by 881.1% to $23.2 million for the three-month period ended March 31, 2021, as compared to $2.4 million for the same three-month period in 2020.
  • Increased mining revenue margin to 67.5% for the three-month period ended March 31, 2021, as compared to 40.4% for the same three-month period in 2020.
  • Produced record net income of $7.5 million, or $0.09 per share for the three-month period ended March 31, 2021, as compared to a $(4.3) million net loss, or $(0.15) per share, for the same three-month period in 2020.
  • Achieved a record net income margin of 32.5% for the three-month period ended March 31, 2021.
  • Increased total cash and Bitcoin to $275.6 million, as compared to $235.0 million as of December 31, 2020.

“We are extremely pleased with Riot’s record quarterly financial results, which builds upon a transformative 2020,” said Jason Les, Riot’s CEO.  “The Company’s improved financial results are a direct result of Riot’s absolute focus on Bitcoin mining and growing its mining operations.  With the signing of the definitive agreement to acquire Whinstone US, the Company’s financial and operational prospects are very exciting.  We plan to amplify our focus on initiatives that will drive continued growth for the Company, increasing the US-based share of the Bitcoin mining landscape.”

First Quarter 2021 and Recent Financial Highlights

Riot continues to attain significant milestones, driven by its focus on Bitcoin mining.

  • Reported a Company record $7.5 million in net income for the three-month period ended March 31, 2021, as compared to a $(4.3) million net loss for the same three-month period in 2020.
  • Increased mining revenues by 881.1%, to $23.2 million for the three-month period ended March 31, 2021, as compared to $2.4 million for the same three-month period in 2020.
  • Increased mining revenue margin, excluding depreciation and amortization, to 67.5% for the three-month period ended March 31, 2021, as compared to 40.4% for the same three-month period in 2020.
  • Increased total mined BTC by 62.0% on a sequential quarter-over-quarter basis, with 491 BTC mined in the first quarter of 2021, as compared to 303 BTC mined in the fourth quarter of 2020.
  • Completed the first quarter of 2021 with record current assets and zero debt, with $275.6 million in cash and BTC as reported on the balance sheet.  In addition, as of April 30, 2021, the Company’s unaudited BTC balance stood at 1,771 BTC, all of which were produced by its mining operations.
  • The average BTC price used to calculate Riot’s first quarter 2021 mining revenues was approximately $46,700.

First Quarter 2021 and Recent Operational Highlights

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Riot Blockchain Reports Record First Quarter 2021 Financial Results, Current Operational and Financial Highlights Castle Rock, CO, May 17, 2021 (GLOBE NEWSWIRE) - Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot" or the "Company"), one of the leading Nasdaq-listed public Bitcoin (“BTC”) mining companies in the United States, reported financial results as of and …

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