GigaChad, Ashton Harris, and Riot losing money on every BTC mined.
Riot is the blue column. Today bitcoin is trading at $19,976.20. Third party information. BASED ON OUR EXPERIENCES – DO NOT TRUST CHAD EVERETT HARRIS OR ANYTHING HE’S INVOLVED WITH! Chad Everett Harris, Whinstone, Riot Blockchain, Northern Data AG accused of...
Scams and Cryptocurrency Can Go Hand in Hand
Key points Cryptocurrency is being more commonly used in scams and fraud. Crypto is untraceable and readily available. New methods of protection are needed for consumers. When one of our students told us they were going to drop out of college in August 2021, it wasn’t...
Chad Everett Harris, Whinstone US, RIOT Blockchain, sued for $50MM
According to the lawsuit, Chad Everett Harris, Ashton Harris, and Whinstone US started a bitcoin mining operation in Louisiana with a $5.8 MM initial deposit provided by GMO Internet Group to cover construction costs and to provide working capital. Whinstone made...
62% of RIOT’s miners (and growing) are semi-permanently idle?
Check my math, I'll update the post if there are any corrections. The June Operational Update states: > Building F holds 23,000 miners and is full. > RIOT currently has 42,455 miners deployed total, including at Coinmint. > RIOT is shutting down the Coinmint...
GigaChad, RIOT Blockchain cash flow problems?
In the Q1 report, RIOT had $113M in cash as of March 31, 2022 and spent a net of $198M cash over those 3 months ($66M / month). Now, 4 months later, what might we estimate has happened since: Another -$264M spent (continuing the $66M / month). +$140M raised in April...
RIOT’s investor presentation indicates RIOT will underperform BTC performance.
Jason Les replied during the AMA for 4 minutes. I’ll quote bits below: the purpose of that model was not to forecast Riot's financial performance Maybe not, but I think it’s presented in a way that makes it easy to imagine someone making that mistake. He also said in...
Chad Everett Harris, Riot Blockchain, no way to grow?
At record date for the proxy 135M out of the 170M authorized were issued. When Q2's ER is released we'll know more of how deep the shelf has been filled. Employee proxy item did pass, so they need to hold back shares for those employee programs. Doesn't leave them...
Chad Harris, RIOT Blockchain Fraudulent Presentations?
Last year RIOT started adding an attachment to it's monthly production updates with a chart of what the projected hashrate would be in the future. Each month, we got a new actual hashrate and a new projected hashrate schedule. I spent some time pulling every one of...
“Bald and Plump” Chad Everett Harris, Whinstone, RIOT Blockchain, “Fake News” Again
Bitcoin requires an immense amount of energy. Here’s why that’s sparking a crypto backlash By — Judith Lewis Mernit, Yale Environment 360 The first time Jackie Sawicky learned that a Bitcoin mining operation was coming to Corsicana, a rural Texas city 60 miles south...
Chad Everett Harris, RIOT BLOCKCHAIN losing money on miners. Check it out.
These are miners that profit less than $1,000/year and will be unprofitable in 22 months. No need to take my word for any of this, everything has links. All approximate. Tell me if I messed up any calculation. Do your own research. Not financial advise. In the Q1...