Riot Blockchain, a Bitcoin mining company, reported a 19% increase in Bitcoin production in 2023, mining a total of 6,626 BTC. The rise in annual revenue was attributed to the higher Bitcoin prices in 2023 compared to the bear market in the previous year. The average cost to mine one Bitcoin in 2023 for Riot decreased by about $3,686 compared to 2022, averaging $7,539 per Bitcoin. Revenue for the year reached $280.7 million, up from $259.2 million in the previous year. Riot's share price surged by 47.47% over the past month but dipped by 10.65% last week. In December 2023, Riot expanded its hash rate with the acquisition of 66,560 mining rigs from MicroBT. Other mining firms like Core Scientific and Marathon Digital also saw notable production increases in 2023. Despite this success, Riot, along with the Texas Blockchain Council, filed a lawsuit against U.S. government agencies for demanding intrusive data from crypto miners. Read more AI-generated news on: https://app.chaingpt.org/news