Bitcoin miner Riot delays annual report, to restate results

(Reuters) – Bitcoin miner Riot Platforms Inc said on Thursday it would delay its annual financial reports because of the corrections made to financial statements in the past.

Riot filed regulatory paperwork stating that its financial statements from quarters ending March 20, June, September 2021 and September 2022 can’t be relied on due to incorrectly calculating impairment due to bitcoin assets.

Riot shares dropped nearly 1% after-hours trading

The crypto miner expects to file the annual report within the 15-day extension received by the U.S Securities and Exchange Commission.

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