Comment on Bitcoin mining is no longer profitable
Sibshops@lemm.ee 3 weeks agoI don’t believe this is necessarily true. Miners like Riot Blockchain are operating at a loss and other people are stealing electricity.
Comment on Bitcoin mining is no longer profitable
Sibshops@lemm.ee 3 weeks agoI don’t believe this is necessarily true. Miners like Riot Blockchain are operating at a loss and other people are stealing electricity.
bjorney@lemmy.ca 3 weeks ago
I’m not a finance wizard, but I peeked at their last SEC filing, and first 3 quarters of 2024 they posted a 35m operating loss, but added almost 900m worth of assets to their balance sheet (mostly Bitcoin), which to me tells a very different story
Sibshops@lemm.ee 3 weeks ago
That’s because they diluted their stock and sold it.