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The "Riot Platforms" Company Achieves Profits in 2024 and Compensates for Losses in 2023
The company "Riot Platforms" recorded a record revenue of $376.7 million in 2024, an increase of 34% from the previous year, resulting in a net income of $109.4 million compared to losses of $49.4 million in 2023.
Most of the revenue came from Bitcoin mining, which generated $321 million, despite a decrease in production to 4828 BTC due to rising costs and the impact of the Bitcoin mining reward halving.
The cost of mining each Bitcoin increased to $32,216 due to increased competition and reduced energy supplies.
The company continued its expansion by acquiring “Block Mining” and “E4A Solutions,” and also increased its Bitcoin holdings to 17,722 Bitcoin valued at $1.65 billion.
“Riot” looks forward to entering the fields of artificial intelligence (AI) and high-performance computing (HPC) in 2025, especially through the “Corsicana” facility, to support its future growth.
#RiotPlatforms #BlockMining #btc
$BTC
#AI
The company "Riot Platforms" recorded a record revenue of $376.7 million in 2024, an increase of 34% from the previous year, resulting in a net income of $109.4 million compared to losses of $49.4 million in 2023.
Most of the revenue came from Bitcoin mining, which generated $321 million, despite a decrease in production to 4828 BTC due to rising costs and the impact of the Bitcoin mining reward halving.
The cost of mining each Bitcoin increased to $32,216 due to increased competition and reduced energy supplies.
The company continued its expansion by acquiring “Block Mining” and “E4A Solutions,” and also increased its Bitcoin holdings to 17,722 Bitcoin valued at $1.65 billion.
“Riot” looks forward to entering the fields of artificial intelligence (AI) and high-performance computing (HPC) in 2025, especially through the “Corsicana” facility, to support its future growth.
#RiotPlatforms #BlockMining #btc
$BTC
#AI
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