Riot Platforms has expressed concerns about the ongoing global chip shortage, the need for constant growth in hash rate, and a rising pro-climate agenda in the US and how they may impact its financial standing.
The firm, which is preparing for the upcoming halving event in the cryptocurrency world, has outlined 13 key risks in its annual 10-K filing, specifically related to its future mining profitability.
This includes the shortage of specialized ASIC chips, which are essential for their operations and can only be produced by a limited number of manufacturers.
Riot stated that the current global supply chain crisis and high demand for computer chips may have a long-term effect on their mining operations.
Last year, the company placed its largest order ever for hash rate with manufacturer MicroBT, worth $291 million. However, they anticipate continued difficulties in obtaining and installing the machines until the chip shortage is resolved, resulting in higher than usual costs.
