Riot Platforms sold 600 BTC out of 676 BTC mined in May


Mining company Riot Platforms (formerly Riot Blockchain) mined 676 BTC in May, up 6% from April.

Of its total production, the firm sold 600 BTC at an average price of $27,568, raising $16.5 million. In addition, Riot received $2.4 million in revenue from Texas energy operator ERCOT through a demand response program.

At the end of the month, the company’s cryptocurrency reserves reached 7190 BTC.

Riot deployed 94,176 bitcoin miners with a total hash rate of 10.5 EH/s. At the end of the month, another 800 devices were ready for installation.

According to a press release, the company continues to respond to the December 2022 winter storms. In one of the two buildings damaged by the elements of the data center in Rockdale, Texas, there are 17,040 miners disconnected from the network.

Riot expects this hardware to reach 12.5 EH/s in the second half of the year.

The company also revealed that it provided a grant to bitcoin developer Tobin Harding in May.

“Harding is known for his prolific contributions to improving the developer experience and the quality of software strategically important to Bitcoin, and this grant will allow him to continue his work,” the company said.

Riot has become a member of the Texas A&M University Blockchain and Energy Research Consortium. The company’s vice president, Pierre Rochard, joined the structure’s board of directors.

Recall that in May, the total income of bitcoin miners reached $916 million. The indicator has been steadily growing since November 2022.

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