Riot Blockchain suffered big losses

According to the financial report, losses of the Riot Blockchain mining company amounted to $58 million in 2018. Last year, the company produced 1081 BTC and 3023 LTC with the help of 8 thousand installations. Revenue was approximately $ 7.7 million.

The net loss occurred due to a fall in the value of digital money, equipment depreciation and various expenses. The Riot Blockchain company didn’t have long-term debts at the end of 2018. Its balance amounted to $1.6 million in traditional and digital assets, and it owns 12.1% in Coinsquare, the leading Canadian crypto-trading company.

The US Securities and Exchange Commission (SEC) launched an investigation into the Riot Blockchain last summer. Representatives of the company reported that they are cooperating with the regulator. They don’t disclose details of the investigation.

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