Riot Platforms sold 600 BTC in May from the 676 BTC mined

Bitcoin mining company Riot Platforms (formerly Riot Blockchain) mined 676 BTC in May, up 6% from April.

Riot Produces 676 Bitcoin in May 2023 and Provides Operations Updates.

“In May, Riot successfully maintained steady and consistent production, mining 676 Bitcoin during the month,” said @JasonLes_, CEO of Riot.

Read more in today’s press release: https://t.co/G8x3dqW646

— Riot Platforms, Inc. (@RiotPlatforms) June 5, 2023

From the total mined, the company sold 600 BTC at an average price of $27,568, realising $16.5 million. Additionally Riot earned $2.4 million from Texas grid operator ERCOT under its demand‑response programme.

By the end of the month the company’s cryptocurrency reserves stood at 7,190 BTC.

The deployed fleet comprised 94,176 Bitcoin miners with a total hash rate of 10.5 EH/s. By month‑end a further 800 units had been prepared for installation.

According to the press release, the company continues to address the aftermath of the December 2022 winter storms. In one of the two storm‑damaged buildings at the Rockdale data center (Texas) 17,040 miners remain offline.

Riot expects that in the second half of the year this equipment will enable a hashrate of 12.5 EH/s.

The company also said that in May it awarded a grant to Bitcoin developer Tobin Harding.

«Harding is known for his prolific contributions to improving developer interaction and the quality of Bitcoin software that is strategically important, and this grant will allow him to continue working», said the company.

Riot joined the Texas A&M University Blockchain and Energy Research Consortium. The company’s vice president, Pierre Rochard, joined the consortium’s board.

In May, aggregate Bitcoin-miner revenue reached $916 million. The figure has been rising since November 2022.