Bitcoin Miner Riot Racks Up 255 BTC in June

IconCryptoNewsTerminal Staff03 Jul, 2024

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Bitcoin Miner Riot Racks Up 255 BTC in June

Riot Platform, a publicly traded Bitcoin (BTC) miner, mined 255 BTC in June, marking a 19% increase from May. The company's hashrate, a measure of its computing power, also increased by 16% to 2.7 exahashes per second (EH/s) in June. Riot's production increase is a positive sign for the Bitcoin mining industry, which has been struggling with falling prices and rising energy costs. The company's success is likely due to its focus on efficiency and its use of renewable energy sources. Riot operates its mining facilities in Texas, which has a favorable regulatory environment and access to cheap electricity.