Riot Platforms Unveils Production and Operations Summary for December 2024
Riot Platforms Unveils Production and Operations Summary for December 2024
Riot Platforms, Inc., a leader in Bitcoin mining, has announced its production and operations results for December 2024, showcasing both progress and strategic expansions. In a significant month, the company produced 516 Bitcoin, marking a 4% increase from November 2024 and a deepened commitment to their operational growth.
Production Highlights
Riot’s production metrics illustrate a steady upward trajectory in terms of efficiency and output:
- - Bitcoin Produced: 516
- - Average Bitcoin Produced per Day: 16.6
These figures not only indicate operational efficiency but also represent a continual focus on enhancing their mining capabilities. However, there is a noted decrease in comparison to December 2023, which recorded 619 Bitcoin produced.
Bitcoin Holdings and Financial Strategy
At the close of 2024, Riot Platforms held a robust 17,722 Bitcoin, a striking increase of 141% from the previous year. This inventory strategy underscores the company’s focus on building a sustainable asset base amidst fluctuating market conditions. Riot did not engage in Bitcoin sales during December 2024, further solidifying their commitment to holding onto their mined assets for future profitability.
Operational Advancements
Riot has successfully completed the installation of all systems at its Corsicana Facility, concluding the first phase of its 400 MW development. Jason Les, CEO of Riot, stated, “We are pleased to share that we have completed the installation of the final systems at the Corsicana Facility... we are undertaking a measured commissioning process to ensure power quality as part of our commitment to being good stewards of the electrical grid.” As part of their operational strategy, Riot aims for optimal performance through careful management of power quality, which may slightly affect the immediacy of new hash rates coming online.
Hash Rate Metrics
The company’s total deployed hash rate reached 31.5 EH/s, reflecting a 3% increase from November, with 155% growth year-over-year. This highlights Riot’s competitive positioning within a rapidly evolving market. Here are some notable hash rate metrics:
- - Rockdale Facility: 15.0 EH/s
- - Corsicana Facility: 14.1 EH/s
- - Kentucky Facility: 2.4 EH/s
Riot’s robust infrastructure development has allowed them to not only grow their hash rate but achieve significantly higher output per efficient unit of power consumed, evidenced by an all-in power cost averaging 3.8c/kWh for December.
Looking Ahead
As they anticipate continued growth in 2025, Riot Platforms has slated a series of investor events, including participation in the Needham 27th Annual Growth Conference and the Nashville Energy and Mining Summit. They are also expanding their talent pool, actively recruiting across various positions to bolster their operations.
About Riot Platforms, Inc.
Riot’s mission is to become the preeminent Bitcoin-driven infrastructure platform worldwide. Their operations span Bitcoin mining facilities across Texas and Kentucky, complemented by innovative electrical engineering services based in Denver, Colorado. For those looking to explore opportunities within this growing sector, Riot encourages candidates to explore open positions on their website.
Conclusion
Through strategic expansion, solid production metrics, and a renewed focus on Bitcoin holdings, Riot Platforms stands poised to navigate the future landscape of Bitcoin mining, reflecting its commitment to operational excellence and shareholder value creation.
Topics Consumer Technology）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.