| Schedule of Reportable Segments and Operating Income |
The following table details revenue and cost of revenues for the Company’s reportable segments for the years ended December 31, 2021, 2020 and 2019, and reconciles to net income (loss) in the consolidated statements of operations (in thousands):
Riot Blockchain, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
(in thousands, except for share and per share amounts)
|
|
|
Years Ended December 31, |
| |
|
|
2021 |
|
|
2020 |
|
|
2019 |
| |
Reportable segment revenue: |
|
|
|
|
|
|
|
|
|
|
|
| |
Revenue, net - mining |
|
$ |
184,422 |
|
|
$ |
11,984 |
|
|
$ |
6,741 |
| |
Revenue, net - hosting |
|
|
24,546 |
|
|
|
- |
|
|
|
- |
| |
Revenue, net - engineering |
|
|
5,265 |
|
|
|
- |
|
|
|
- |
| |
Other revenue |
|
|
97 |
|
|
|
97 |
|
|
|
96 |
| |
Eliminations |
|
|
(1,087 |
) |
|
|
- |
|
|
|
- |
| |
Total segment and consolidated revenue |
|
|
213,243 |
|
|
|
12,081 |
|
|
|
6,837 |
| |
Reportable segment cost of revenue (exclusive of depreciation and amortization shown below): |
|
|
|
|
|
|
|
|
|
|
|
| |
Cost of revenues - mining |
|
|
45,513 |
|
|
|
6,251 |
|
|
|
6,097 |
| |
Cost of revenues - hosting |
|
|
32,998 |
|
|
|
- |
|
|
|
- |
| |
Cost of revenues - engineering |
|
|
4,351 |
|
|
|
- |
|
|
|
- |
| |
Eliminations |
|
|
(769 |
) |
|
|
- |
|
|
|
- |
| |
Total segment and consolidated cost of revenues (exclusive of depreciation and amortization shown below) |
|
|
82,093 |
|
|
|
6,251 |
|
|
|
6,097 |
| |
Reconciling Items: |
|
|
|
|
|
|
|
|
|
|
|
| |
Acquisition-related costs |
|
|
(21,198 |
) |
|
|
- |
|
|
|
- |
| |
Selling, general and administrative |
|
|
(87,429 |
) |
|
|
(10,251 |
) |
|
|
(9,159 |
) | |
Depreciation and amortization |
|
|
(26,324 |
) |
|
|
(4,494 |
) |
|
|
(119 |
) | |
Change in fair value of derivative asset |
|
|
18,626 |
|
|
|
- |
|
|
|
- |
| |
Change in fair value of contingent consideration |
|
|
(975 |
) |
|
|
- |
|
|
|
- |
| |
Realized gain on sale/exchange of cryptocurrencies |
|
|
253 |
|
|
|
5,184 |
|
|
|
665 |
| |
Impairment of intangible rights acquired |
|
|
- |
|
|
|
- |
|
|
|
(700 |
) | |
Impairment of long-term investment |
|
|
- |
|
|
|
(9,413 |
) |
|
|
- |
| |
Impairment of cryptocurrencies |
|
|
(36,462 |
) |
|
|
(989 |
) |
|
|
(844 |
) | |
Loss on issuance of convertible notes, common stock and warrants |
|
|
- |
|
|
|
- |
|
|
|
(6,155 |
) | |
Change in fair value of warrant liability |
|
|
- |
|
|
|
- |
|
|
|
(2,869 |
) | |
Change in fair value of convertible notes |
|
|
- |
|
|
|
- |
|
|
|
(3,896 |
) | |
Reversal of registration rights penalty |
|
|
- |
|
|
|
1,358 |
|
|
|
- |
| |
Gain on deconsolidation of Tess |
|
|
- |
|
|
|
- |
|
|
|
1,139 |
| |
Gain (loss) on sale of equipment |
|
|
- |
|
|
|
29 |
|
|
|
- |
| |
Interest income (expense) |
|
|
- |
|
|
|
85 |
|
|
|
- |
| |
Interest expense |
|
|
(296 |
) |
|
|
- |
|
|
|
(122 |
) | |
Other income (expense) |
|
|
2,378 |
|
|
|
(6 |
) |
|
|
874 |
| |
Realized gain on sale/exchange of long-term investment |
|
|
26,260 |
|
|
|
- |
|
|
|
- |
| |
Unrealized loss on marketable equity securities |
|
|
(13,655 |
) |
|
|
- |
|
|
|
- |
| |
Current income tax expense |
|
|
(254 |
) |
|
|
- |
|
|
|
- |
| |
Deferred income tax benefit |
|
|
- |
|
|
|
- |
|
|
|
143 |
| |
Net loss |
|
$ |
(7,926 |
) |
|
$ |
(12,667 |
) |
|
$ |
(20,303 |
)
|
|