Riot Platforms Feels Bitcoin Halving Hangover in Rocky Q1 Earnings
Bitcoin miners are still swallowing the halving pill—and Riot’s financials show the stomachache isn’t over yet.
Revenue beats, profits miss: The classic Wall Street ’hold my margarita’ moment. While Riot touted record hash rate capacity (because what’s a crypto earnings call without some technical flexing?), their bottom line got squeezed by post-halving economics. Mining rewards got cut in half—but energy bills didn’t.
Market watchers eyeing the upcoming difficulty adjustment like: ’Maybe this time the algorithm will show mercy.’ Spoiler: It won’t. The bitcoin blockchain giveth, and the bitcoin blockchain taketh away—usually at the worst possible time for publicly traded miners trying to please shareholders who still think ’proof of work’ refers to their Peloton stats.
Bonus finance jab: If your CFO starts talking about ’strategic hodling’ during an earnings call, it’s not a business model—it’s a cry for help.
