Riot Platforms, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies)
Notes Tables
Notes Details

Cryptocurrencies

Cryptocurrencies

12 Months Ended

Dec. 31, 2021

Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]

Cryptocurrencies

Note 6. Cryptocurrencies

The following table presents information about our cryptocurrencies (Bitcoin):

	December 31, 2021			December 31, 2020
Beginning balance	$	11,626		$	3,839
Revenue recognized from cryptocurrencies mined		184,422			11,838
Proceeds from sale of cryptocurrencies		(295	)		(8,298	)
Realized gain on sale/exchange of cryptocurrencies		253			5,184
Impairment of cryptocurrencies		(36,462	)		(989	)
Cryptocurrencies received from sale of equipment		-			52
Ending balance	$	159,544		$	11,626

During 2021, all cryptocurrency activity was from Bitcoin. During 2020, all but less than $0.1 million was from Bitcoin.

During 2021, 2020 and 2019, the Company recorded impairment charges on its cryptocurrency holdings of $36.5 million, $1.0 million and $0.8 million, respectively.