Riot Platforms (NASDAQ:RIOT) shares dipped around 4% on Wednesday after the bitcoin miner reported a decline in bitcoin production for June.
The company produced 255 bitcoin (BTC-USD) last month, down 45% Y/Y but up 19% from May 2024. Average bitcoin produced per day were 8.5 vs. 15.3 in June 2023.
Riot (RIOT) reached 22.0 EH/s in deployed hash rate, exceeding its target of 21.4 EH/s for the second quarter of 2024. “June was a historic month for Riot, during which we added an additional 7.3 EH/s to our hash rate capacity in Buildings A1 and A2 at our Corsicana Facility and by utilizing additional available capacity at our Rockdale Facility, bringing total capacity to 22.0 EH/s,” said CEO Jason Les.
The Castle Rock, Colorado-based firm anticipates achieving a total self-mining hash rate capacity of 31 EH/s by the end of 2024. It held 9,334 bitcoins as of June.