Bitcoin Miner Riot Blockchain Hashrate Reached an ATH in 2022
Riot Blockchain hit an all-time high of 9.7 EH/s in hash rate capacity and mined 5,554 BTC in 2022. The Colorado-based bitcoin miner – Riot Blockchain – reported a total revenue of nearly $260 million for 2022, a 22% increase compared to 2021. It mined 5,554 BTC and boosted its hash rate capacity to an all-time high of 9.7 EH/s.
Riot produced 46% more bitcoin in 2022 than in 2021. However, the crypto market collapse affected its BTC mining revenue which stood at $156 million compared to the $184 million registered the year before. CEO Jason Les described Riot’s performance in 2022 as “remarkable,” highlighting the reached ATH in hash rate capacity of 9.7 EH/s (the figure was 3.1 EH/s as of December 31, 2021), the expansion at the Rockdale Facility, and maintaining a “strong financial position.”. Riot also realized significant benefits from its power strategy that allowed it to cut production costs.
Source
@CryptoWorldAnalysis
