Riot Platforms Uses Bitcoin Holdings to Fund Data Center Expansion
During its first-quarter earnings call, Riot Platforms' Executive Vice President Jason Chung stated that the company used sales of its Bitcoin holdings as a capital-efficient funding source for data center development. The firm reported $167.20 million in revenue and generated $33.2 million from its new data center segment.
Tickers: $RIOT
Topics: balance sheet usage Bitcoin capital efficiency data centers