Benzinga – Shares of Bitcoin (CRYPTO: BTC) miner Riot Platforms Inc (NASDAQ:RIOT) on Tuesday provided a production and operations update.
What Happened: Riot said it produced 215 bitcoins in May, down 68% year-over-year and down 43% compared to April. The lower totals reflect the first full month of reduced block rewards following the April halving.
The company had a total deployed hash rate of 14.7 EH/s at the end of May, up 39% year-over-year. The company said it held a total of 9,084 bitcoin as of the end of the month, up 26% year-over-year.
“Riot made significant progress towards its 2024 hash rate growth targets during the month of May as operations ramped up at our second mining facility outside of Corsicana, Texas. The first 100 MW building at our Corsicana Facility, Building A1, is now fully developed and miner deployment is nearing completion,” said Jason Les, CEO of Riot.
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