🚀Riot Platforms, a Bitcoin mining firm, reported a whopping $211.8M net income for Q1 2024, a 1,000% increase from last year! 🎉 However, they fell short of analyst revenue estimates. Mining revenue spiked 55.4% YoY to $74.6M, thanks to Bitcoin's price surge. But, higher mining costs and lower Bitcoin production slowed the income rise. Riot mined 1,364 BTC in Q1, a 36% decrease from Q1 2023. The firm's new Texas facility, set to be the world's largest Bitcoin mining facility, is expected to boost its hash rate capacity. Thoughts on Riot's performance? Comment below! 👇