Reading time: ~2 m
The Nasdaq-listed mining company Riot Blockchain mined 466 BTC in May – 104% more than in the same period of 2021.
Riot Blockchain Announces May 2022 Production and Operations Updates — Producing 466 #Bitcoin https://t.co/AwciNqJLok#riot #riotblockchain #bitcoinmining
— Riot Blockchain Inc. (@RiotBlockchain) June 2, 2022
As of May 31, the firm has accumulated cryptocurrency reserves of 6536 BTC mined independently. Last month, Riot sold 250 BTC and generated net revenue of about $7.5 million.
According to the report, the company’s fleet has 43,458 miners with a total hashrate of 4.6 EH/s. Riot Blockchain CEO Jason Les said that with the deployment of an additional 7855 machines, the figure will grow to 5.4 EH/s.
In April, the firm’s shares, like those of other cryptocurrency-related companies, outpaced bitcoin in terms of depth of fall. According to a new industry metric from Arcane Research, Riot papers along with Marathon Digital were the most overvalued among public miners.
In May, Riot shares fell by 36.62% to $ 6.87 at the close of trading on June 2.
Recall that in the first quarter of 2022, Riot Blockchain mined 1405 BTC and received a net profit of $ 35.6 million.
#Riot #Blockchain #mined #BTC