Bitcoin

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 <a href="https://ultramining.com/news/en/riot-platforms-and-microbt-join-forces-to-bring-asic-manufacturing-to-u-s-shores/" rel="noopener noreferrer nofollow">Riot Platforms</a>, a leading Bitcoin mining firm, <a href="https://www.riotplatforms.com/news-media/press-releases/detail/156/riot-announces-june-2023-production-and-operations-updates" rel="noopener noreferrer nofollow">produced</a> 460 bitcoins in June 2023. Despite a month-to-month decrease of 32%, the figure represents a 9% increase year-over-year. These results were accompanied by strategic power usage, leading to an additional 361 bitcoins' worth of revenue. 
 The company made smart decisions on power usage amid near-record Texas temperatures. This strategy yielded $8.4 million from power sales and $1.6 million from demand response revenue. Because of high demand, Riot curtailed Bitcoin mining to sell power back to the grid, supporting Texans while generating financial benefits. 
 The long-term power contracts allow Riot to reduce mining during peak demand, showcasing their vertical integration and financial strength. Meanwhile, the firm aims for a total self-mining hash rate capacity of 12.5 EH/s in the second half of 2023. 
 To execute on growth plans, Riot ordered 33,280 MicroBT miners, expected to add 7.6 EH/s to the self-mining fleet. By mid-2024, the total self-mining hash rate capacity should reach 20.1 EH/s. 
 Despite the challenges, Riot is recruiting for various positions, pushing its mission to positively impact related sectors and communities. The company continues to solidify its position as a major player in Bitcoin mining and digital infrastructure. 
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Riot Platforms Boosts Bitcoin Production Amid Texas Heatwave

Ultramining_Eng

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