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Riot Blockchain stock falls 4.87% due to increasing quarterly losses

Nishit Jogi by Nishit Jogi
November 8, 2022
in News
Reading Time: 1 min read
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Home » News » Riot Blockchain stock falls 4.87% due to increasing quarterly losses

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Riot’s Nasdaq-listed stock fell 4.87% in pre-market trading on Tuesday, after U.S. based Bitcoin miner reported lower third-quarter revenue on Monday, as other major miners struggled with liquidity issues. Riot Blockchain reported total revenue of $46.3 million in the third quarter of 2022, down from $64.8 million in the same period last year, in its latest earnings report released on Monday in the United States. According to the report, the company’s net loss increased to $36.6 million in the third quarter of this year, up from $15.3 million the previous year.

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