First Mover Americas: Crypto Markets Reel on Geopolitical Risk

Bitcoin miner Riot Platforms’ second-quarter loss trebled to more than $84 million, or $0.32 per share. Selling, general and administrative expenses rose to $61.2 million, more than half of which comprised stock compensation expenses related to new grants under a long-term incentive program. The net loss for the quarter also included a $76.4 million drop in the fair value of bitcoin it holds. April’s Bitcoin halving, which cuts the reward miners receive for adding new blocks to the blockchain by 50%, reduced the number of bitcoin Riot produced during the quarter. The company mined 844 BTC, 52% less than in the year-earlier period.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• Source: https://www.coindesk.com/markets/2024/08/01/first-mover-americas-crypto-markets-reel-on-geopolitical-risk/?utm_medium=referral&utm_source=rss&utm_campaign=headlines