Riot Announces June 2023 Production And Operations Updates; In June, Riot Mined 460 BTC
Portfolio Pulse from Happy Mohamed
Riot Platforms, Inc. (NASDAQ:RIOT) has released its production and operations updates for June 2023. The company mined 460 Bitcoin in June, a 9% increase year-on-year but a 32% decrease from May 2023. Riot also announced an initial order of 33,280 MicroBT miners for its Corsicana Facility, which is expected to add 7.6 EH/s to its self-mining fleet. The company's power strategy, which involves selling power back into the grid during periods of peak demand, generated $8.4 million in power sales and $1.6 million in demand response revenue in June.
July 06, 2023 | 8:46 pm
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Riot Platforms' June 2023 production update shows a YoY increase in Bitcoin mining but a decrease from the previous month. The company's power strategy has also generated significant revenue.
Riot Platforms' June 2023 production update shows a YoY increase in Bitcoin mining, indicating growth in its core operations. However, the decrease from the previous month suggests some volatility in its production. The company's power strategy, which involves selling power back into the grid during periods of peak demand, has generated significant revenue, demonstrating the effectiveness of this strategy. This could potentially offset any negative impact from the decrease in Bitcoin mining.
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