Bitcoin

Pace

<a href="https://ultramining.com/news/en/riot-platforms-to-boost-efficiency-with-midas-immersion-coolings/" rel="noopener noreferrer nofollow">Riot</a> Platforms, Inc., a leading entity in the Bitcoin mining domain, announced its <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">production</a> and operations updates for February 2024, marking a significant stride in its quest for enhanced mining efficiency and operational expansion. Despite a month-over-month and year-over-year decrease in Bitcoin production, with 418 Bitcoins mined in February 2024, Riot Platforms maintains a robust strategic outlook, emphasizing infrastructure updates and anticipated growth in <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">hash rate</a> capacity, according to <a href="https://www.riotplatforms.com/riot-announces-february-2024-production-and-operations-updates/" rel="noopener noreferrer nofollow">Riotplatforms</a>.
February's Bitcoin production saw a decrease compared to previous periods, a reflection of the dynamic nature of mining activities and market conditions. However, Riot's steadfast approach to scaling its operations is evident in its deployed hash rate and the number of miners, showing a year-over-year increase, underpinning its commitment to bolstering mining efficiency.
A notable highlight of Riot's February update is the announcement of a new purchase order with <a href="https://ultramining.com/en/manufacturers/microbt/" rel="noopener noreferrer nofollow">MicroBT</a> for 31,500 miners, aimed at augmenting the mining efficiency and hash rate capacity at its Rockdale Facility. This strategic move is set to propel Riot's mining capacity to new heights, with an anticipated <a href="https://ultramining.com/news/en/riot-battles-texas-heat-to-produce-410-btc-and-stabilize-energy-grid/" rel="noopener noreferrer nofollow">self-mining</a> hash rate capacity of 31 EH/s by the end of 2024, and an impressive forecast of 41 EH/s upon full deployment in 2025.
Riot's infrastructural developments extend beyond equipment upgrades. The company is making significant progress on its Corsicana Facility, which is expected to dramatically increase Riot's mining capacity. The completion of the structure for the first 100 MW building within this facility and the commencement of operations shortly after the energization of the 400 MW substation mark a pivotal development phase. These steps are part of Riot's phased expansion strategy, aiming to reach a developed mining capacity of 1 gigawatt in the foreseeable future.

Riot Platforms Sets New Pace in Bitcoin Mining Efficiency and Expansion

Ultramining_Eng

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