Riot Platforms, Inc. (NASDAQ: RIOT), an industry participant focused on vertically integrated Bitcoin (BTC) mining, announces unaudited production and operations updates for December 2024.
Jason Les, CEO of Riot said:
“Riot mined 516 bitcoin in December, a 4% increase over the previous month, as we continue increasing operational hash rate. We are pleased to share that we have finished installation of the final systems at the Corsicana Facility, completing the first 400 MW development phase. While all systems have been completed with miners installed, we are undertaking a measured commissioning process to ensure power quality as part of our commitment to being good stewards of the electrical grid, which has delayed some hash rate from coming online.”
The firm’s management added that during the year 2024, they increased their deployed hash rate “by 155%, exceeding the growth of the network hash rate which increased by 52% over the same period.”
As a result, they mined, on an unaudited basis, “a total of 4,828 bitcoin during 2024 at an all-in net power cost of 3.4c/kWh.”
Their mining operations and strategic purchases “made during the year resulted in Riot holding 17,722 bitcoin at the end of 2024, representing a 141% increase in bitcoin held compared to the end of 2023.”
As mentioned in the update from Riot Platforms, this has led to “a 39% increase in bitcoin held per fully-diluted Riot share, or ‘bitcoin yield’, and represents a metric we will look to continuously improve upon for the benefit of their shareholders going forward.”
Riot is currently recruiting for positions across the company.
As covered, Riot’s vision is to “be the world’s leading Bitcoin-driven infrastructure platform.”
Their mission is to positively impact the “sectors, networks, and communities that we touch.”
They believe that the combination of “an innovative spirit and strong community partnership allows the company to achieve best-in-class execution and create successful outcomes.”
Riot is a Bitcoin mining and digital infrastructure company “focused on a vertically integrated strategy.”
The company has Bitcoin mining “operations in central Texas and Kentucky, and electrical switchgear engineering and fabrication operations in Denver, Colorado.”
