Bitcoin mining firm Riot Blockchain boosted its deployed hashrate by 50% in June, enabling it to mine 255 Bitcoin — nearly 20% more than in May.
Riot increased its hashrate from 14.7 exahashes per second (EH/s) to 22 EH/s during the month by completing miner installations at its Corsicana facility and utilizing additional capacity at its Rockdale Facility.
CEO Jason Les described June as a “historic month,” surpassing the firm’s mid-year deployed hashrate target of 21.4 EH/s, primarily achieved through miner energization in late June.
Riot retained all 255 Bitcoin mined in June, bringing its total stash to 9,334 Bitcoin valued at $561.6 million at current prices.
The 255 Bitcoin mined in June, valued at $15.3 million, represented a 45% decline year-on-year due to the halving event reducing block subsidies by 50% on April 20.
With a hashrate exceeding 20 EH/s, Riot now ranks as the second-largest Bitcoin miner, trailing only Marathon Digital at 31.5 EH/s.
Riot announced plans to ramp up its self-mining hash rate capacity to 31.5 EH/s by the end of 2024. The company aims to achieve 100 EH/s by 2027 or shortly thereafter, contingent upon fully exercising its option to purchase additional MicroBT miners in the future.
In June, Riot realized $6.2 million in power credits. According to Google Finance, Riot’s (RIOT) share price declined by 1.5% on Wednesday to $9.57.
Year-to-date, the stock is down 37.9%, and over the past 12 months, it has decreased by 28.3%.
