Bitcoin miner Riot delays annual report, to restate outcomes


(Reuters) – Bitcoin miner Riot Platforms Inc stated on Thursday it expects to delay its annual monetary report because it has to right errors recognized in earlier monetary statements.

In a regulatory submitting, Riot stated its monetary statements for the quarters ending in March, June and September in 2021 and 2022 can now not be relied upon, because it had inaccurately calculated impairment associated to its bitcoin property.

Riot’s shares edged practically 1% decrease in after-hours buying and selling.

The crypto miner expects to file the annual report inside a 15-day extension it has obtained from the U.S. Securities and Change Fee.

(Reporting by Anirban Chakroborti in Bengaluru; Enhancing by Maju Samuel)

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