Riot Blockchain Produced 740 BTC Last Month

Riot Blockchain, a bitcoin mining company, produced 740 BTC in January, a 62% rise from that month’s output and a new monthly record for the business.

The year’s promising beginning stands in contrast to the disappointing output levels and declining income expected to occur by the end of 2022.

Riot produced a record-breaking 740 BTC worth of bitcoin in January despite having problems with their mining fleet. CEO Jason Les disclosed that the Rockdale Facility was affected by the recent Texas winter storms, which decreased its capability for hash rates. He complimented his crew for making progress despite the challenging weather.

“Repairs have been ongoing in both buildings, and we have successfully brought Building F back online, representing 0.6 EH/s of impacted hash rate capacity,” Les stated while further adding, “We are thankful for our team’s progress, despite difficult weather conditions, and are evaluating several options to bring online the approximately 1.9 EH/s of hash rate capacity still affected in Building G.”

Riot Sold 700 BTC

Riot took advantage of the rise in bitcoin’s price to sell 700 BTC for almost $13.7 million. Its overall fleet comprises 82,656 miners, and as of the end of January, it had 6,978 BTC, or more than $160 million. 

Its hash rate capacity is 9.3 EH/s. There are 82,656 miners in its entire fleet, with a 9.3 EH/s hash rate capacity. Due to the snow, over 17,000 computers have been turned off as of right now.

Riot stated it is growing its staff with new members in addition to the successful outcomes. This stands in contrast to the sector’s continued firing binge. Core Scientific, Riot’s rival, also cut back on staff, and even that was not enough to stop them from filing for bankruptcy a few days before Christmas.