Riot Blockchain has released its unaudited production and operations updates for November 2022. The company produced 521 BTC and had a deployed fleet of 72,428 miners with a hash rate capacity of 7.7 exahashes per second (EH/s) on 30 November.
According to the release, Riot produced 521 BTC which increases by 12% in the comparison with the figure on November 2021. As a result, the company sold 450 BTC, generating net proceeds of $8.1 million as of November 30, 2022. Additionally, Riot reported that it has held approximately 6,897 BTC with all produced by the Company’s self-mining operations so far.
Riot again achieved a new record for total hash rate capacity during the month of November, resulting in our highest monthly Bitcoin production figure to date.
said Jason Les, CEO of Riot
The latest surge in Bitcoin’s hash rate has led to new all-time highs and effectively rendered miners who do not use cutting-edge equipment unprofitable. This in turn affects the publicly traded corporations that are exposed to this market.
Riot will be transitioning to another mining pool which offers a more consistent reward mechanism, so that Riot will fully benefit from our rapidly growing hash rate capacity as we work towards our goal of reaching 12.5 EH/s in the first quarter of 2023.
Les stated in the release
During Q1 2023, Riot set to achieve a total self-mining hash rate capacity of 12.5 EH/s, assuming full deployment of approximately 115,450 Antminer ASICs, but excluding any potential incremental productivity gains from the Company’s utilization of 200 MW of immersion-cooling infrastructure.
Substantially all of the Company’s self-mining fleet will consist of the latest generation S19-series miners, and the Riot hosts approximately 200 MW of institutional Bitcoin mining clients.
