Riot Sold 700 BTC in January

Last month, the mining company Riot sold 700 BTC worth about $13.7 million, according to the press release.

In January the firm mined a record 740 BTC — 62% more than in the comparable period in 2022 (458 BTC).

Riot holds 6,978 BTC on its balance sheet as of 31 January 2023. All cryptocurrency mined with the company’s own facilities.

The firm has 82,656 devices with a total hash rate of 9.3 EH/s.

Currently, 17,040 miners are not in use following damage to Building G from severe winter weather in late December in Texas. The idle equipment has a hash rate of 2.5 EH/s.

“Despite the downsizing of our deployed fleet and hash rate, caused by damage to our Rockdale facility, Riot continues to set new records,” said Riot chief executive Jason Les.

According to him, repairs are under way. Building F has already been restored and miners with a total hash rate of 0.6 EH/s have been brought back online.

Nevertheless, the target of 12.5 EH/s in the first quarter of 2023 is likely to be postponed, Les said.

Last month the company received 5,130 new S19 miners from Antminer and put 6,912 such devices into operation.

In January Riot dropped the ‘blockchain’ from its name, to emphasise the growing diversification of its business operations.

Earlier, the mining company Marathon Digital sold 1,500 BTC in January.