Riot Blockchain, a Texas-based Bitcoin mining company, produced 355 BTC in September of this year.
This news is part of Riot’s unaudited production and operations. update Last month, the company disclosed its BTC holdings, sales and profits.
According to the announcement, Riot’s 355 BTC production is down 13% compared to September 2021, when it produced 406 BTC. Nevertheless, last month’s production brought the company’s total holdings to his 6,775 BTC, making him worth more than $135 million at current prices.
Of the 355 BTC produced last month, Riot sold 300 BTC, generating a net profit of around $6.1 million.
Since the beginning of September, the company has deployed 9,070 new miners, with approximately 6,900 additional miners ready for deployment. When all of them are turned on, the company will have over 62,000 miners deployed by him with a hashrate capacity of around 6.4 EH/s. The company’s current 5.6 EH/s hashrate capacity is expected to increase to 12.5 EH/s in the first quarter of next year. Riot said it plans to deploy over 115,000 miners.
Nasdaq-listed company saw shares rise It rose 5.7% in pre-market trading on Tuesday, continuing its 8.45% gain from last month.
The company has become a leading figure in the U.S. cryptocurrency mining industry after opening stores in Milam County, Texas in 2020. Riot’s massive mining facility added hundreds of new jobs to the county and increased the local tax base by millions of dollars. , Texas Tribune reportTo encourage the company to stay in the area, the county offered Riot a 45% discount on local taxes for 10 years.
Having a large energy consumer like Riot in the area also proved to be beneficial for Texas as a whole. In July, Riot cut power consumption to make more power available for his ERCOT, which powers 25 million Texans.
