Riot Platforms’ sleight of hand: Bitcoin mining costs $70K per coin
by WHY_DO_I_SHOUT Riot Platforms’ $84M loss last quarter was linked here yesterday, but one thing in the linked article caught my attention. “The average direct cost to mine Bitcoin, inclusive of power credits, was $25,327 in the quarter, as compared to $5,734 per Bitcoin for the same three-month period in 2023,” Riot said. $25,327, let alone $5,734, …