Mining Giant Strikes Gold Last Month: Earned 450 Bitcoin!

The mining giant Riot Platforms mined a total of 450 Bitcoin (BTC) worth approximately $49.3 million in June.

The US-based Bitcoin mining company Riot Platforms achieved significant growth over the past year by producing 450 BTC in June, but experienced a decline compared to the previous month.

According to the statement, the mining activity carried out by Riot Platforms in June showed a 76% increase compared to the same month last year. The company, which earned 255 BTC in June 2024, experienced approximately a 12% decline compared to the 514 BTC earned in May of this year.

With 19,273 BTC in assets, Riot Platforms also conducted Bitcoin sales worth approximately $41.7 million in June. The company redirected a portion of its energy capacity at its Texas Corsicana facility towards areas such as artificial intelligence and high-performance computing in January, temporarily halting mining. After restarting Bitcoin mining in April, Riot produced for the third consecutive month.

Standing Out with Energy Policy

Riot CEO Jason Les stated that the company plays an important role in balancing energy demand by participating in the Texas Electric Reliability Council's (ERCOT) Four Coincident Peak (4CP) program. Through this program, Riot contributes to the stability of the energy grid while strengthening its competitive advantage.

Riot Platforms is currently among the largest Bitcoin mining companies in the world, with a market value of $4.36 billion, following Core Scientific and Marathon Digital Holdings. The company's shares are trading at $12.20 on Nasdaq. Bitcoin was trading at approximately $109,400 at the time of writing this news.