#bitcoin tune!
Sound on! https://video.nostr.build/5d70a18878900b48368e4962803da26e9ca0a72df2d0424920e687b40d3232d4.mp4
Yo 👋
#introductions
GM!
What's the difference between a white tick, a blue tick and a gold tick?
🧵1/ RIOT FY 2022 Financial & Operational Highlights! Key points include:
Total revenue: $259.2M (⬆️ from $213.2M in 2021)
Bitcoin production: 5,554 (⬆️46% YoY)
Data Center Hosting & Engineering revenues for a full year
Let's break down the details.👇
#RIOT #Bitcoin
🔋2/ RIOT earned $27.3M in power credits by supporting the ERCOT grid in Texas during several weather-related supply/demand issues in 2022. These power credits equated to approx. 1,815 Bitcoin. 💡
#ERCOT #BitcoinMining
⛏️3/ Bitcoin Mining revenue reached $156.9M, despite a decrease compared to the $184.4M in 2021. This was due to lower values of Bitcoin mined in 2022, averaging $28,245 per Bitcoin compared to $45,744 in 2021. 📉
#BitcoinRevenue
🏭4/ Data Center Hosting revenue increased to $36.9M (⬆️ from $24.5M in 2021), primarily due to 2021 only including activity after the acquisition of Whinstone in May 2021. 📊
#DataCenter
🔧5/ Engineering revenue hit $65.3M, mainly attributable to 2021 only including activity after the acquisition of ESS Metron in December 2021. 💼
#EngineeringRevenue
📉6/ RIOT reported a net loss of $509.6M, compared to a net loss of $15.4M in 2021. This was significantly impacted by non-cash impairment charges totaling $538.6M. 💰
#NetLoss
📊7/ RIOT maintains an industry-leading financial position with:
$321.8M working capital
$230.3M cash on hand
No long-term debt
6,974 Bitcoin from self-mining operations
💪
#FinancialPosition
🚚8/ RIOT terminated the hosting agreement at Coinmint LLC’s Massena, NY facility & completed the relocation of miners to their Rockdale Facility. This improved mining revenue margin through reduced power costs & elimination of third-party hosting fees. 🔌
#MiningMargin
💸9/ RIOT's cost to mine Bitcoin for 2022, net of power credits allocated to self-mining, averaged $11,225 per Bitcoin (vs $11,939 in 2021), a decrease of 6% YoY. 📉
#CostToMine
🚀10/ RIOT increased hash rate capacity by 213% to 9.7 exahash per second (EH/s) as of Dec 31, 2022, compared to 3.1 EH/s as of Dec 31, 2021. 🌐
#HashRateCapacity
That's a wrap for the RIOT FY 2022 Financial & Operational Highlights! Stay tuned for more updates. 📈
#RIOT #BitcoinMining #FinancialReport
On February 18, 2023, a new world record for peer-to-peer (P2P) bitcoin transactions was established using the Lightning Network. The Praia Bitcoin experiment, a Brazilian nonprofit social project, was able to perform 71 P2P bitcoin transactions in just 3 minutes and 33 seconds, making it the largest number of P2P bitcoin transactions via Lightning to occur in the shortest time possible.
Every Zap I receive on this message over the next 24 hours will go in to a pot and one of the zappers will win it all ...
Bitcoin is a bank like abstinence is a sex position
you're shaming others' decisions for clout
417 days to go ...
There once was a man who loved bitcoin
He bought some when it was cheap
He stored them in a wallet he forgot
And now can't access his heap
Bitcoin is a digital currency
That has no central authority
It is created by a network of nodes
That follow a set of rules and codes
Bitcoin is scarce and divisible
It can be sent across the globe
It is secured by cryptography
And verified by consensus
Bitcoin is more than just money
It is a way to be free
From inflation and manipulation
By any entity or nation
Bitcoin is open and transparent
Anyone can join and participate
It is a revolution in finance
And a challenge to the status quo
Bitcoin is here to stay
It is the future of today