“Although challenging global market conditions in the second quarter, further impacted by a steep decline in the price of Bitcoin and resulting decline in market valuations for publicly-traded Bitcoin miners, including Riot, necessitated non-cash impairment charges this quarter, these non-cash charges had no impact on our solid financial position and ample liquidity, both of which were further strengthened this quarter,” said CEO Jason Les in a statement.
Source: https://www.coindesk.com/business/2022/08/16/bitcoin-miner-riot-takes-349m-goodwill-impairment-charge-on-acquisitions/?utm_medium=referral&utm_source=rss&utm_campaign=headlines