Analysis of Riot Blockchain’s Q3’22 Earnings
Quick Take
- Reported earnings November 7, 2022 and closed at $5.75 per share
- Mining cost as a percentage of sales doubled increased from 39.0% to 66.5% QoQ
- Aggregate revenues fell 36.5% to $46.3mm from $72.9,mm QoQ
- Raised $298.4mn in ATM Offering at a weighted average price of $8.23 per share, a ~30% dislocation from current trading prices
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Author: Greg Lim
