Riot Platforms bitcoin production climbs 6% M/M and 45% Y/Y

Riot Platforms ( NASDAQ: RIOT ) mined 676 bitcoins ( BTC-USD ) in May, up from the 639 produced in April and from 466 in the year-ago period, it said Monday. The company also sold 600 BTC at an average net price of $27,568 for net proceeds of $16.5M. As of May 31, RIOT held 7,190 BTC, up 1% M/M and 10% Y/Y. Around 800 miners were staged for development at the end of May. Upon deployment of those miners, Riot ( RIOT ) expects to have a total of 94,976 miners deployed with a hash rate capacity of ~10.6 exahashes per second (EH/s), excluding the 17,040 miners offline in Building G. Its deployed hash rate was 10.5 EH/s in May, unchanged from April and up from 4.6 EH/s a year before. Due to the ongoing impact of damage incurred to Buildings F and G during the severe winter storms in Texas in December 2022, Riot ( RIOT ) said it now anticipates achieving a total self-mining hash rate capacity of 12.5 EH/s in the back half of this year. More on Riot Platforms Riot Platforms' Surge: A Balanced Valuation Or Just The Beginning? Riot Platforms: 2023 Returns Might Be Limited