Riot Platforms, Inc. recently reported its June 2023 Bitcoin mining performance, revealing that it produced 460 Bitcoin while executing an effective power strategy.
The mining firm produced 40% fewer Bitcoin in June, mining just 460 BTC compared to 757 BTC in May.
| Metric | June 2023 | May 2023 | June 2022 | Month/Month | Year/Year |
|---|---|---|---|---|---|
| Bitcoin Produced | 460 | 676 | 421 | -32% | 9% |
| Average Bitcoin Produced per Day | 15.3 | 21.8 | 14.0 | -30% | 9% |
| Bitcoin Held | 7,250 | 7,190 | 6,654 | 1% | 9% |
| Bitcoin Sold | 400 | 600 | 300 | -33% | 33% |
| Bitcoin Sales – Net Proceeds | $10.6 million | $16.5 million | $6.2 million | -36% | 71% |
| Average Net Price per Bitcoin Sold | $26,456 | $27,568 | $20,627 | -4% | 28% |
| Deployed Hash Rate | 10.7 EH/s | 10.5 EH/s | 4.4 EH/s | 2% | 143% |
| Deployed Miners | 95,904 | 94,176 | 42,455 | 2% | 126% |
| Power Sales | $8.4 million | $0.5 million | $1.9 million | 1,452% | 338% |
| Demand Response Revenue | $1.6 million | $2.3 million | $0.7 million | -29% | 137% |
Source: Riot
Despite the drop in sales, Riot was able to leverage its power strategy to generate substantial revenue equivalent to $10 million in revenue. As a result, the combined power sales and demand response revenue equated to an equivalent of a “361 BTC” increase based on the average price of Bitcoin during the month.
Jason Les, CEO of Riot, commented,
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