Riot Platforms, a listed U.S.-listed Bitcoin mining company, increased its deployed computing power by 50% in June, bringing the number of Bitcoins mined by the company that month to 255 BTC, a monthly increase of 20% compared to May. 14.7 EH/s increased to 22 EH/s, an increase of nearly 50%. This was due to Riot launching the mining machine of the new mine Corsicana and additionally expanding the additional available capacity of the original Rockdale mine. Riot CEO Jason Les described June as history. A positive month as the company surpassed its mid-year deployment target of 21.4 EH/s.

The new mine was opened around the end of the month, bringing the company's total holdings to 9,334 BTC, worth US$561.6 million at current prices. The 255 BTC mined in June was still a 45% decrease compared to last year. This was due to the decline in Bitcoin prices. As a result, Riot is now the second-largest Bitcoin miner by computing power, surpassing CleanSpark and Core Scientific, both of which also reported computing power of over 20 EH/s. Riot is now second only to Marathon Digital, which has a computing power of 31.5 EH/s.

Riot plans to increase its self-mined computing power to 31.5 EH/s by the end of 2024. Its goal is to reach 100 EH/s in 2027. This goal will be achieved by purchasing more mining machines. Like the wave of mining machine upgrades mentioned previously, there is a computing power war going on among large mining farms. Mining All the Bitcoins were exchanged for mining machines, and they were preparing to increase their computing power to squeeze out competitors, which also caused selling pressure on Bitcoin.

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〈MICA Daily｜Factory expansion wave: Riot Platforms Bitcoin mining computing power has increased significantly〉This article was first published in "Blocker".