Bitcoin mining firm Riot Platforms (RIOT) has announced impressive production numbers for May, reaching 514 BTC, which is an 11% rise from the previous month and a striking 139% jump compared to the same period last year. The company sold nearly all of this Bitcoin, bringing in approximately $51.3 million at an average sale price of $102,591 per Bitcoin.
Riot's hashrate also saw notable growth, with total deployed computing power now at 35.4 exahashes per second, reflecting a 5% increase from April and up 142% year-over-year. The company's operational efficiency improved as well, with the fleet now running at 21.2 joules per terahash, down from 28 J/TH last May.
In addition to its mining efforts, Riot is expanding into the AI and high-performance computing sectors. Recently, the firm completed the acquisition of 355 acres near its Corsicana, Texas facility, which will support the development of data centers focused on enterprise and hyperscale clients. CEO Jason Les emphasized that these data centers require larger space than traditional mining facilities. To further this initiative, Riot has appointed Jonathan Gibbs as Chief Data Center Officer. This move reflects the company's ambition to delve into the rapidly evolving market for AI-compatible infrastructure.
Following this announcement, RIOT shares have increased by 3.4%.
Riot's hashrate also saw notable growth, with total deployed computing power now at 35.4 exahashes per second, reflecting a 5% increase from April and up 142% year-over-year. The company's operational efficiency improved as well, with the fleet now running at 21.2 joules per terahash, down from 28 J/TH last May.
In addition to its mining efforts, Riot is expanding into the AI and high-performance computing sectors. Recently, the firm completed the acquisition of 355 acres near its Corsicana, Texas facility, which will support the development of data centers focused on enterprise and hyperscale clients. CEO Jason Les emphasized that these data centers require larger space than traditional mining facilities. To further this initiative, Riot has appointed Jonathan Gibbs as Chief Data Center Officer. This move reflects the company's ambition to delve into the rapidly evolving market for AI-compatible infrastructure.
Following this announcement, RIOT shares have increased by 3.4%.
