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WallStreet Forex Robot 3.0
Seeking Alpha 2025-01-06 15:16:10

Riot Platforms’ bitcoin reserve swells in 2024

Riot Platforms ( NASDAQ: RIOT ) produced 516 bitcoins in December, up 4% from 495 bitcoins produced in November, but down 17% from 619 bitcoins produced in December 2023. As of month-end, the company held 17,722 bitcoins, including 5,784 bitcoins acquired in December 2024. That represents a 141% growth in bitcoin held compared to the end of 2023. Avg. operating hash rate over the month was 27.4 EH/s. During the year, Riot increased its deployed hash rate by 155%, exceeding the growth of the network hash rate which increased by 52% over the same period. As a result, it mined, on an unaudited basis, a total of 4,828 bitcoin during 2024 at an all-in net power cost of 3.4c/kWh. Shares of Riot Platforms ( RIOT ) were up 3.5% . More on Riot Platforms Riot Platforms: MicroStrategy Plan May Not Work Riot Platforms: Why This Could Be The Best Time To Sell This Stock Q3 Earnings: An Ugly Quarter For Riot Platforms Bitcoin's banner 2024 overshadows uneven performance in crypto-tied stocks Bitcoin miners' 'two value creation paths' outlined by Bernstein

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