Shares of Riot Blockchain (RIOT) climbed 1.5% in early trade on Tuesday after the Bitcoin mining company’s Q2 earnings surpassed analysts’ expectations. Earnings stood at $0.22 per share against a net loss of $0.31 per share in the year-ago quarter. The street had estimated the company to post earnings of $0.01 per share. Mining revenues came in at $31.5 million, below the analysts' estimates of $32.6 million. The top-line, however, increased significantly from $1.9 million in the year-ago quarter. The company reported 38% sequential growth in total mined Bitcoin to 675 in the second quarter. The average Bitcoin price used to calculate Riot’s second-quarter 2021 mining revenues was about $46,600.
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Riot Blockchain (NASDAQ:RIOT)
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