Riot Platform’s Power Strategy: A Twist in the Tale of Bitcoin Mining

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In June, Riot Platforms mined 450 bitcoin, a 12% decrease from May’s 514 BTC, with daily production averaging 15 BTC compared to 16.6 BTC in May.

Riot’s Power Strategy: A Twist in the Tale of Bitcoin Mining

Oh, dear! Riot Platforms, the bitcoin mining firm, has produced 450 bitcoin (BTC) in the past month, a 12% drop from the 514 BTC mined in May. This decline saw the firm’s average bitcoin mined per day fall from 16.6 BTC in May to 15 BTC in June. But fear not, for Riot’s year-over-year production was still 76% higher than in the same period in 2024. 😃

As shown in its June production and operations update, Riot sold fewer coins in June, about 397 BTC versus the 500 BTC it sold in May. Consequently, the firm’s net proceeds from BTC sales dropped 19% from $51.3 million in May to $41.7 million in June. Riot, however, achieved a higher average net price per BTC sold of $105,071, approximately $2,500 more than the $102,591 realized in May.

Remarking on the miner’s June performance, Jason Les, CEO of Riot, said:

Riot mined 450 bitcoin in June, which also represented the start of ERCOT’s Four Coincident Peak (4CP) program. Riot’s power strategy, which includes economic curtailment and voluntary participation in the 4CP and other demand response programs, significantly contributes to grid stability while enhancing Riot’s competitive positioning.

Meanwhile, Riot’s June data shows a marginal increase in the deployed hashrate from 35.4 EH/s in May to 35.5 EH/s in June. However, its average operating hashrate over the month dropped by 5% from 31.5 EH/s to 29.8 EH/s. During the same month, Riot’s total power credits surged 549% from $0.6 million to $3.8 million, while total demand response credit went up by a modest 6% from $1.7 million to $1.8 million in June.

On the other hand, Riot’s “all-in power cost” dropped 11% from 3.8 cents per kilowatt-hour (kWh) realized in May to 3.4 cents per kWh achieved in June.

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2025-07-04 09:57