Bitcoin Mining Firm Riot Reports Monthly Output of 740 Bitcoins in January

• This is a 12 percent rise from the 659 BTC produced in December 2022.
• The harsh weather prompted the temporary closure of Riot’s Rockdale, Texas, plant.

Riot, a Bitcoin mining firm, claimed today that its monthly output hit a record 740 BTC in January. Despite a decrease in its fleet of mining equipment and hash rate capability. This is a 12 percent rise from the 659 BTC produced in December 2022. And a 62 percent increase from the 458 BTC produced in January 2022 by the Texas-based corporation.

Despite the operational inconvenience North American miners encountered at the end of December owing to adverse weather conditions. They nonetheless mined a record quantity of Bitcoin worth $16.8 million at current rates.

Plan to Achieve 12.5 EH/s Pushed Back

The harsh weather prompted the temporary closure of Riot’s Rockdale, Texas, plant. Riot, which recently deleted “blockchain” from its name, is now known as Riot Platforms. Moreover, Riot CEO Jason Les issued a statement lamenting that the company’s plan to achieve 12.5 EH/s in total hash rate capacity by the beginning of Q1 2023 will be pushed back.

With a deployed pool of 82,656 miners achieving a hash rate of 9.3 EH/s as of January 31, 2023, the business estimates that winter interruptions harmed around 2.5 EH/s of its hash rate capability. The business has expressed optimism about expanding its hash rate capacity in the foreseeable future, despite recent obstacles.

At the end of January, Riot had around 1,152 miners ready for deployment, after having deployed 6,912 S19-series miners last month and received 5,130 additional S19 equipment. Once operational, the business anticipates increasing its fleet of mining equipment to 83,808 with a hash rate capacity of about 9.4 EH/s.