Riot Platforms Shares Climb After FY 2024 Results: Details

Bitcoin miner Riot Platforms Inc. (NASDAQ:RIOT) reported its fourth-quarter results after Monday’s closing bell. Here’s a look at the details from the report. 

The Details: Riot Platforms reported fiscal 2024 revenue of $376.7 million, which beat the analyst consensus estimate of $372.34 million.

For fiscal 2024:

• Total revenue of $376.7 million, as compared to $280.7 million for 2023. The increase was primarily driven by a $132 million increase in Bitcoin (CRYPTO: BTC) mining revenue.
• Produced 4,828 Bitcoin as compared to 6,626 during the same 12-month period in 2023.
• The average cost to mine Bitcoin, excluding depreciation, was $32,216 in 2024, as compared to $3,831 per Bitcoin in 2023. The increase was primarily driven by a 53% decrease …

Full story available on Benzinga.com