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Real RIOT BLOCKCHAIN May Production and Operation Updates. So sad!

by | Jun 6, 2022 | Crypto, Find the Fraud, Marketing, The Economy, Trend Tracker

  • 8% fewer BTC than April (508 vs 466).
  • 59% fewer new miners deployed than April (3,456 vs 1,086)
  • Lower hashrate than April (4.7 vs 4.6EH)
  • Fewer miners running than April (46,375 vs 43,458) due to shutting off 4,000 S17-Pros
  • Reduced their estimated “total” hash rate since April (12.6 vs. 12.8)
  • Sold over half the BTC mined again, at even low BTC prices than April.
  • None of the buildings are finished again, which were supposed to be done in April.
  • The CFO is resigning.
  • They hired a Mergers & Acquisitions guy.

There is some vague story here about refurbishing 4,000 S17-Pros to put them back online later, but the “estimated hash rate growth” section makes it clear they don’t plan to bring these back online until at least next year. I suspect they don’t plan to bring them back at all.

It also doesn’t really matter, because the real story is that they are really struggling to get more miners online. Jan-Apr, they deployed between 3,000 and 5,800 machines a month. In May, they deployed barely 1,000.

They have been saying for a while now that by end of year, they’ll have 120,150 (now 116,150) machines deployed, but they have 72,692 to go and 7 months to do it. 1,000 per month just isn’t going to cut it.

This is looking bad, folks.

Disclosure:  This thread can be found on RedditMedianista has no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours.  The views and opinions expressed herein are the views and opinions of the authors.



Chad Everett Harris, Whinstone, Riot Blockchain, Northern Data AG accused of accounting fraud  Read that article here.

Chad Harris defaults on million dollar loan, click here  to learn more.  Be sure to read the court doc.  It’s a hoot,  He tries to play the victim.  The judge ain’t buying it.

Chad Everett Harris owned this business while defaulting on loans and invoices.  Click here to learn more.

Chad Everett Harris is a porn spammer?  We believe he did that while sending email like these to the people he owed money to.