Riot Platforms mines 32% less bitcoins in June vs. May

Riot Platforms ( NASDAQ: RIOT ) said Thursday it mined 460 bitcoins ( BTC-USD ) in June, down 32% from the 676 tokens produced in May and up 9% from the 421 tokens produced in the year-ago period. During the month, it sold 400 bitcoins ( BTC-USD ) for net proceeds of $10.6M, compared with the 600 BTC it disposed of in the prior month. Its deployed hash rate rose to 10.7 exahash per second (EH/s) (with a deployed mining fleet of 95,904) from 10.5 EH/s in May and 4.4 EH/s in June 2022. The company still expects to achieve a total self-mining hash rate capacity of 12.5 EH/s at its Rockdale facility in the back half of the year, amid the ongoing impact of damage incurred to Building G during the severe winter storm in Texas in December 2022. "As temperatures in Texas reached near record levels during the month and power demand was high, we made dynamic decisions on our power usage based on market signals," said Riot CEO Jason Les. On certain dates of peak demand, the company curtailed over 90% of its power usage, temporarily forgoing revenue from its BTC mining operations and instead providing energy resources to ERCOT. More on Riot Platforms: Riot Platforms buys over 33K bitcoin miners for $163M Riot Platforms: Massive Bitcoin Mining Expansion Keeps Us Bullish