Bitcoin miner Riot Platforms produces 450 BTC, valued at $49.3 million, in June
Quick Take Riot Platforms noted a 76% year-over-year increase compared to the 255 BTC Riot mined in June 2024 and a 12% decrease from the 514 BTC mined just one month ago. The firm, which now holds 19,273 BTC, diverted some of its power capacity in its Corsicana, Texas facility toward artificial intelligence and high-performance computing uses in January.
Bitcoin mining firm Riot Platforms (ticker RIOT) mined 450 bitcoin, valued at around $49.26 million at current prices, in June.
That's a 76% year-over-year increase compared to the 255 BTC Riot mined in June 2024, but down 12% from the 514 BTC mined a month earlier, according to a company release on Thursday. The firm, which now holds 19,273 BTC, sold $41.7 million worth of bitcoins in June.
This also represents the third straight month Riot mined bitcoin since restarting the activity in April of this year, after the firm took a hiatus beginning in January. That month the firm began diverting some of its power capacity in its Corsicana, Texas facility toward AI and high-performance computing uses, The Block previously reported, in a bid to diversify its revenue streams amid increasing mining competition.
Riot also recorded earning some mining credits from the Electric Reliability Council of Texas ( ERCOT ) during the start of the Four Coincident Peak ( 4CP ) program, an energy demand program designed to help balance the load in Texas during peak summer months.
"Riot mined 450 bitcoin in June, which also represented the start of ERCOT’s Four Coincident Peak program," Riot CEO Jason Les said in a statement. "Riot’s power strategy, which includes economic curtailment and voluntary participation in the 4CP and other demand response programs, significantly contribute to grid stability while enhancing Riot’s competitive positioning."
The Block reached out to Riot for additional comment.
Riot is one of the largest cryptocurrency miners behind Core Scientific and Marathon Digital Holdings, according to data from CompaniesMarketCap. RIOT shares traded at $12.20 on Nasdaq as of writing, with the firm's total market cap sitting at $4.36 billion.
Bitcoin traded at around $109,400 as of publication, recording $40.5 billion in trading volume in the past 24 hours, The Block's BTC Price Page shows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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