Riot Platforms Reports 514 BTC Production Growth and Expansion Plans
Riot Platforms (RIOT) reported a production increase in May, mining 514 BTC, an 11% rise from April and a 139% increase year-over-year. The company sold nearly all mined bitcoin, generating $51.3 million at an average price of $102,591 per token.
Key points include:
- Total deployed hashrate reached 35.4 exahashes per second, up 5% from April and 142% year-over-year.
- Operating efficiency improved to 21.2 joules per terahash, down from 28 J/TH last May.
- Riot acquired 355 acres of land near its Corsicana facility for developing data centers aimed at enterprise and hyperscale clients.
- Jonathan Gibbs was appointed as Chief Data Center Officer to lead this initiative.
- RIOT shares increased by 3.4% in Tuesday trading.