Riot Blockchain announces delay in quarterly report filing

Riot Blockchain (NASDAQ:RIOT) has announced a delay in filing of its quarterly report on Form 10-Q for the period ended June 30, 2022.In an SEC filing, the bitcoin miner said that it requires additional time to complete the procedures relating to the review and assessment of its carrying value of recorded goodwill.The complexity of analyzing the impact of various global macroeconomic and geopolitical factors, such as the ongoing war in Ukraine, global logistics slowdowns, and recent significant inflationary pressures, on RIOT's carrying value of recorded goodwill is causing a delay in finalizing the accounting determinations, the filing notes.The company also added that it expects to report a significant change to its results of operations and consolidated statements of cash flows and shareholder equity in the quarterly report, due to the emergence of various adverse macroeconomic factors and two significant acquisitions (Whinstone US and ESS Metron).Previously (Aug 03): Riot Blockchain reported a drop in July bitcoin production amid reduced power consumptionRIOT shares are down ~2% pre-market