Bitcoin and other cryptocurrencies might have had a good week so far, but it’s not quite enough to make up for this Nasdaq-listed cryptocurrency mining firm‘s 2018 losses.
In its 2018 financial report, released yesterday, cryptocurrency mining firm Riot Blockchain posted a $58 million loss.
According to the report, the firm generated $7.7 million in mining revenue, earning 1,081 Bitcoin (including conversions from Bitcoin Cash) and 3,023 Litecoin.
This was done at its facility in Oklahoma City, where it’s been operating 8,000-plus miners since last June.
Despite the huge losses, Riot was able to maintain a positive gross margin of 33 percent.
It puts its losses down to company liabilities totaling $45.2 million.