The happless little miner called Riot Blockchain -- and its SEC Form 10-K is. . . ugly.
Riot is spending over ten times as much in 2021, compared to 2020. . . but on an operating basis -- it only reduced its operating losses from mining by a dime a share. This is a raging dumpster fire, still deeply in the red, all during a year that saw all time record high Bitcoin spot prices. Ouch.
That is, Riot is STILL losing over $0.23 per share, on each of the around 95 million shares it has sold to the public (to finance this crazy boondoggle), as of year end 2021. Of course, here in Q1 2022, the share count is up over 20 per cent on that year end count -- to around 117 million shares. It just keeps printing shares to fund ever widening operating losses.
I'll have much more in a bit -- but as you can see, I am busy comparing my NCAA bracket picks -- to our 44th President's, as is our now 12 year tradition.
Candidly, I've only bested him twice, in twelve shamefully long years. Ugh. Maybe this year. . . maybe -- I'll get to a third time. [He's made too many "safe" picks, me thinks.]
Anyhoo -- grinning. . . back later tonight, with another comparison bracket graphic, for the NCAA women.
नमस्ते
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