For its part, and Riot Platforms increased its Bitcoin mining by 9% month-over-month, mining 362 BTC in September.
The company has formalized a long-term contract under which it sells pre-purchased electricity to its utility provider at spot prices in exchange for credits.T
he firm received $11 million in power credits and $2.5 million in credits from participating in ERCOT's ancillary services program.
Riot's hashrate capacity for mining is 12.5 EH/s, and the company expects to increase that to 20.1 EH/s once it installs another 33,000 next-generation Bitcoin miners in mid-2024.
Riot's share price rose 3.25% to $9.06.
CleanSpark mined 643 BTC in September and 6903 BTC during the fiscal year from October 1, 2022 to September 30, 2023.
