Riot has said that it has surpassed its Q2 objective and achieved a deployed hash rate of 22.0 EH/s in June 2024, marking a significant milestone in its Bitcoin mining activities. The business generated 255 Bitcoins, up 19% from May 2024 but down 45% from the previous year. As of the end of June, Riot had 9,334 Bitcoins, up 3% from the previous month and 29% from the previous year. Moreover, the business disclosed $6.2 million in power credits, which brought down electricity prices at all of its locations to 2.6 cents per kWh.
Riot's Corsicana Facility hit new operating benchmarks; phase one is anticipated to have 400 MW of mining capacity overall. By the end of 2024, the business hopes to achieve a total self-mining hash rate capability of 31 EH/s, and by 2025, it hopes to reach 41 EH/s.
Riot's power plan, which includes taking part in the Four Coincident Peak Program of ERCOT, has helped to significantly reduce transmission costs in the future. In addition, Riot is developing its infrastructure by continuing to construct additional structures and by assigning new miners in accordance with a long-term contract with MicroBT.