Riot Platforms Records Strong Bitcoin Production and Unveils Expansion Plans

Riot Platforms achieved impressive results in May, producing 514 bitcoins, representing a significant year-over-year increase of 139%. This production surge, coupled with the company’s successful sale of nearly all output, generated $51.3 million in revenue. Furthermore, Riot Platforms boosted its total computing power to 35.4 EH/s, marking a substantial increase from the previous year. The company achieved this growth by optimizing operational efficiency and reducing energy consumption in its mining equipment. Beyond mining, Riot Platforms is actively pursuing expansion into areas such as artificial intelligence and high-performance computing. In May, the company acquired 355 acres of land near its Corsicana mining site to develop a large-scale data center designed to serve enterprise and hyperscale clients.