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Riot Blockchain Shares Rise After Company Reports Bitcoin Mining Up 252% YoY -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Riot Blockchain Inc (NASDAQ:) announced its production report from January on Friday, showing a 252% year-over-year rise in mined.

This month saw the production of 458 BTC, which resulted in 5,347 BTC total at January 31. It is 7.8% more than December’s 425 BTC.

Early trading on Friday saw Riot share prices rise by 6% Meanwhile, bitcoin has risen by over 4.8% in the first trading day.

Riot currently has a deployed fleet of around 32,552 miners, with a hash rate capacity of 3.4 exahash per second (EH/s) — the hashrate refers to the total combined computational power used to mine bitcoin. Riot has additional miners available for deployment, and Bitmain is shipping more. Riot will have 46.244 miners once all of them have been deployed. This hashrate capacity is approximately 4.7 EH/s.

Riot expects to have a self-mining hashrate capacity of 12.8 exahash/second by Q4 2022.

Bloomberg published earlier this week that Riot plans to stop its Texas Bitcoin mining operations due to cold and freezing temperatures. The company’s today production report confirmed that they have closely watched the weather in Texas, as well as the possible impact of the ERCOT grid on electricity supply, and decided to stop its mining activities at Whinstone Facility.

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