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Mr Jamie
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๐Ÿงต1/ RIOT FY 2022 Financial & Operational Highlights! Key points include: Total revenue: $259.2M (โฌ†๏ธ from $213.2M in 2021) Bitcoin production: 5,554 (โฌ†๏ธ46% YoY) Data Center Hosting & Engineering revenues for a full year Let's break down the details.๐Ÿ‘‡ #RIOT #Bitcoin ๐Ÿ”‹2/ RIOT earned $27.3M in power credits by supporting the ERCOT grid in Texas during several weather-related supply/demand issues in 2022. These power credits equated to approx. 1,815 Bitcoin. ๐Ÿ’ก #ERCOT #BitcoinMining โ›๏ธ3/ Bitcoin Mining revenue reached $156.9M, despite a decrease compared to the $184.4M in 2021. This was due to lower values of Bitcoin mined in 2022, averaging $28,245 per Bitcoin compared to $45,744 in 2021. ๐Ÿ“‰ #BitcoinRevenue ๐Ÿญ4/ Data Center Hosting revenue increased to $36.9M (โฌ†๏ธ from $24.5M in 2021), primarily due to 2021 only including activity after the acquisition of Whinstone in May 2021. ๐Ÿ“Š #DataCenter ๐Ÿ”ง5/ Engineering revenue hit $65.3M, mainly attributable to 2021 only including activity after the acquisition of ESS Metron in December 2021. ๐Ÿ’ผ #EngineeringRevenue ๐Ÿ“‰6/ RIOT reported a net loss of $509.6M, compared to a net loss of $15.4M in 2021. This was significantly impacted by non-cash impairment charges totaling $538.6M. ๐Ÿ’ฐ #NetLoss ๐Ÿ“Š7/ RIOT maintains an industry-leading financial position with: $321.8M working capital $230.3M cash on hand No long-term debt 6,974 Bitcoin from self-mining operations ๐Ÿ’ช #FinancialPosition ๐Ÿšš8/ RIOT terminated the hosting agreement at Coinmint LLCโ€™s Massena, NY facility & completed the relocation of miners to their Rockdale Facility. This improved mining revenue margin through reduced power costs & elimination of third-party hosting fees. ๐Ÿ”Œ #MiningMargin ๐Ÿ’ธ9/ RIOT's cost to mine Bitcoin for 2022, net of power credits allocated to self-mining, averaged $11,225 per Bitcoin (vs $11,939 in 2021), a decrease of 6% YoY. ๐Ÿ“‰ #CostToMine ๐Ÿš€10/ RIOT increased hash rate capacity by 213% to 9.7 exahash per second (EH/s) as of Dec 31, 2022, compared to 3.1 EH/s as of Dec 31, 2021. ๐ŸŒ #HashRateCapacity That's a wrap for the RIOT FY 2022 Financial & Operational Highlights! Stay tuned for more updates. ๐Ÿ“ˆ #RIOT #BitcoinMining #FinancialReport
On February 18, 2023, a new world record for peer-to-peer (P2P) bitcoin transactions was established using the Lightning Network. The Praia Bitcoin experiment, a Brazilian nonprofit social project, was able to perform 71 P2P bitcoin transactions in just 3 minutes and 33 seconds, making it the largest number of P2P bitcoin transactions via Lightning to occur in the shortest time possible.
Bitcoin is a digital currency That has no central authority It is created by a network of nodes That follow a set of rules and codes Bitcoin is scarce and divisible It can be sent across the globe It is secured by cryptography And verified by consensus Bitcoin is more than just money It is a way to be free From inflation and manipulation By any entity or nation Bitcoin is open and transparent Anyone can join and participate It is a revolution in finance And a challenge to the status quo Bitcoin is here to stay It is the future of today
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