Riot Platforms Reports Increase in Bitcoin Production for January 2025

Riot Platforms, Inc. (NASDAQ: RIOT), a leading company in vertically integrated Bitcoin (BTC) mining, has reported a notable increase in its Bitcoin production for January 2025.

Riot Platforms (NASDAQ:RIOT) announced Monday a 2% increase in Bitcoin (CRYPTO: BTC) production for January 2025.

What Happened: Riot Platforms, a leading company in vertically integrated Bitcoin mining, reported a total output of 527 BTC for the month of January, according to riotplatforms.com.

The company reported an average production of 17 BTC per day, while its Bitcoin holdings increased by 3% month-over-month, reaching 18,221 BTC by month-end.

Riot did not sell any Bitcoin during the period.

The company's total deployed hash rate increased to 33.5 exahashes per second (EH/s), up from 31.8 EH/s in December and 12.4 EH/s a year ago.

The company completed the commissioning of its Corsicana Facility, which achieved a deployed hash rate of 15.7 EH/s in January.

During the quarter, Riot began deploying new miners and advanced immersion systems at the Corsicana Facility.

The company said it is evaluating the use of its 600 MW power capacity at the Corsicana Facility for artificial intelligence and high-performance computing (AI/HPC) applications.

Riot has suspended its planned Bitcoin mining expansion at the Corsicana Facility and is pivoting to exploring AI/HPC opportunities, which could significantly alter the company's future operations.

The company's all-in power cost came in at $0.035 per kilowatt-hour, reflecting an 8% decrease from December.

Riot's operational hash rate also saw a significant improvement, with a total average operating hash rate of 29.3 EH/s, up from 8.7 EH/s in January 2024.

The company has adjusted its year-end hash rate capacity forecast to 38.4 EH/s, down from the previously expected 46.7 EH/s, in line with its new strategic direction.

Riot continues to focus on optimizing its operations and exploring new avenues for growth.

For more information on Riot Platforms' latest updates, visit their official site at riotplatforms.com.