Riot Platforms Mines 527 Bitcoin (BTC) in January, Marking Its Highest Monthly Production Since December 2023

Riot Platforms (RIOT) mined 527 Bitcoin (BTC) in January, marking its highest monthly production since December 2023 and reflecting a 2% increase from the previous month, according to Farside data.

Riot Platforms (RIOT) mined 527 Bitcoin (BTC) in January, continuing a trend of increased production and marking its highest monthly output since December 2023, according to Farside data.

The company’s performance comes amid a broader slowdown in the bitcoin mining sector, with most major mining firms experiencing month-over-month declines in production.

Despite the slowdown, Riot's production increased by 2% compared to December. The company also outperformed the broader mining sector, with most major mining firms experiencing month-over-month declines in production.

MARA Holdings (MARA) mined 750 BTC in January, a 13% month-over-month decline. Cleanspark (CLSK) also saw a 6% decrease, mining 626 BTC. Other mining firms reported negative month-over-month production figures, including:

The widespread decline can be attributed to the increasing network difficulty, which both Riot and MARA's CEOs highlighted as a key challenge.

"In January, our production saw a 12% month-over-month decline in blocks won, largely due to fluctuations in network difficulty and intermittent curtailment," said Fred Thiel, MARA's Chairman and CEO.

"Riot mined 527 Bitcoin in January, marking the second consecutive month of increased production despite rising network difficulty,” said Jason Les, CEO of Riot.

Bitcoin’s mining difficulty adjusts every 2,016 blocks to maintain an average block time of 10 minutes. The next difficulty adjustment, set for Feb. 9, is expected to reach a new all-time high, surpassing the previous record of 108.11 trillion (T).

Mining Stocks Performance Year-to-Date

Bitcoin has risen 4% YTD, serving as a benchmark for mining stocks. Among miners:

Hive (HIVE), BTDR and WULF have yet to report January production figures.