Riot Reports Dec. 2023 Bitcoin Produced 619 Vs 681 YoY
Portfolio Pulse from Benzinga Newsdesk
Riot Blockchain reported a decrease in Bitcoin production in December 2023 compared to the previous year, producing 619 Bitcoins versus 681 in December 2022, a 9% decline. However, the average net price per Bitcoin sold increased significantly by 151% YoY to $42,872. The company's deployed hash rate and number of miners increased by 27% and 28% respectively, while power and demand response credits saw a significant decrease.

January 04, 2024 | 2:09 pm
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NEUTRAL IMPACT
Riot Blockchain's December 2023 report shows a decrease in Bitcoin production but a substantial increase in the average net price per Bitcoin sold, indicating mixed performance.
The decrease in Bitcoin production could be seen negatively by investors as it suggests a lower output. However, the significant increase in the average net price per Bitcoin sold could offset concerns by demonstrating higher profitability per unit. The increase in hash rate and miners indicates growth in operational capacity, which could be a positive sign for future production. The decrease in power and demand response credits might be a concern but is less likely to have a direct impact on the stock price compared to production and revenue figures.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100