In December 2024, Riot Platforms, Inc. mined 516 Bitcoin—a 4% monthly increase—upgrading its operational hash rate and finishing the Corsicana Facility. Throughout 2024, the Company expanded its hash rate by 155%, resulting in total Bitcoin production of 4,828 Bitcoin at low operational costs. By year’s end, it held 17,722 Bitcoin, reflecting a substantial growth of 141% compared to 2023.

Riot Platforms, Inc. (NASDAQ: RIOT), a prominent player in Bitcoin mining, has revealed its production results for December 2024. The Company successfully mined 516 Bitcoin in that month, marking a 4% increase from the previous month. This achievement is part of Riot’s sustained efforts to enhance operational efficiency and increase hash rate. Despite the increase in Bitcoin production, the company noted a responsible commissioning approach to maintain power quality at its newly finished Corsicana Facility.

During 2024, Riot expanded its deployed hash rate by an impressive 155%, significantly surpassing the network hash rate growth of 52%. Consequently, the Company mined a total of 4,828 Bitcoin throughout the year, with a favorable all-in net power cost of 3.4 cents per kWh. By the end of 2024, Riot held 17,722 Bitcoin, which is a substantial increase of 141% from the end of 2023, reflecting a 39% rise in Bitcoin yield per fully diluted share.

The Company is actively engaged in recruiting new talent to support its operations and aims to solidify its position as a leading Bitcoin-driven infrastructure platform. Interested candidates can find open positions on Riot’s careers page.

Riot Platforms remains committed to responsible mining practices and is focused on long-term growth strategies to benefit its shareholders.

As a leading firm in the Bitcoin mining sector, Riot Platforms has taken significant measures to enhance its operations and production capabilities. The December 2024 production update highlights the company’s achievements in increasing its Bitcoin output while maintaining operational integrity. The release also outlines Riot’s overall performance throughout 2024, emphasizing strategic decisions that contributed to the company’s growth in Bitcoin holdings and production efficiency, leading to enhanced shareholder value.

Riot Platforms, Inc. has demonstrated noteworthy growth in Bitcoin production and operational efficiency in December 2024, reflecting its commitment to responsible mining practices. The Company has made significant strides throughout the year, increasing its Bitcoin holdings and deployed hash rate considerably. By prioritizing quality commissioning processes and ongoing recruitment, Riot is poised for continued success in the dynamic landscape of cryptocurrency mining, benefitting both its operations and shareholders.

Original Source: www.riotplatforms.com

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