Comment on Bitcoin mining is no longer profitable
bjorney@lemmy.ca 3 days agoMiners like Riot Blockchain are operating at a loss
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 days ago
That’s because they diluted their stock and sold it.