Riot Blockchain (NASDAQ:RIOT) drops 8% after-hours after announcing financial results for Q3 ended September 30, 2021. Total Revenue increased by 2,532% to a record $64.8M for Q3 2021, as compared to $2.5M for Q3 2020. Mining revenue jumped 2,099% Y/Y to $53.6M. Mining revenue margin was $40.6M or 76% which compares to $1.1M or 47% for the same three-month period in 2020 and 70% in Q2 2021. The improvements in revenue and mining revenue margin were primarily due to increases in the price of Bitcoin, combined with the greater number and higher efficiencies of the new generation miners, net of increases in the difficulty index associated with solving Bitcoin mining algorithms. The company recorded net loss of $15.3M for Q3 2021, as compared to a net loss of $1.7M in prior year, significantly impacted by non-cash stock-based compensation expense and unrealized loss on marketable equity securities. Adjusted EBITDA reached $37.6M vs. $0.4M