Riot Platforms Reports December 2024 Production Update and Achieves 4% Monthly Increase

Riot Platforms, Inc. has shared its December 2024 production update, highlighting a 4% increase in Bitcoin mining production from November. The company successfully mined 516 Bitcoin in December, demonstrating its continued growth and expansion in the cryptocurrency mining space.

Expansion and Growth

Riot Platforms achieved a 4% monthly production increase, marking a significant milestone in its growth trajectory. The company has also completed the first phase of its Corsicana Facility, further solidifying its position in the Bitcoin mining industry. As of year-end, Riot holds over 17,700 Bitcoin, reflecting a 141% increase from 2023.

The company’s full hash rate activation remains ongoing, with a careful commissioning process in place to ensure power grid stability. This approach underscores Riot’s commitment to responsible and sustainable cryptocurrency mining practices.

Operational Highlights

In 2024, Riot expanded its deployed hash rate by 155%, surpassing the network hash rate growth of 52%. This achievement demonstrates the company’s ability to adapt and thrive in a rapidly evolving cryptocurrency landscape.

“Riot mined 516 bitcoin in December, a 4% increase over the previous month, as we continue increasing operational hash rate,” said Jason Les, CEO of Riot. “We are pleased to share that we have finished installation…”

Key Statistics

Some key statistics from Riot’s December 2024 production update include:

  • Mined 516 Bitcoin in December, a 4% increase from November
  • Achieved a 4% monthly production increase
  • Completed the first phase of the Corsicana Facility
  • Holds over 17,700 Bitcoin as of year-end
  • Expanded deployed hash rate by 155% in 2024
  • Mined 4,828 Bitcoin throughout the year at an all-in net power cost of 3.4 cents per kilowatt-hour

Analyst Insights

Last week, analysts at H.C. Wainwright named Riot as one of their “big three” Bitcoin miners, predicting that the company will outperform its competitors. This recognition underscores Riot’s position as a leader in the cryptocurrency mining space.

For more news and updates on the cryptocurrency and Bitcoin mining industries, visit Global Crypto News.

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