1 week ago
Bitcoin miner Riot Platforms (RIOT) reported connected Tuesday beardown accumulation maturation successful May, mining 514 BTC — an 11% summation from April and a 139% leap compared to the year-ago level. The institution sold astir each the caller bitcoin, generating $51.3 cardinal successful proceeds astatine an mean terms of $102,591 per token.
Riot’s hashrate besides climbed, with full deployed computing powerfulness reaching 35.4 exahashes per second, a 5% summation implicit April and 142% higher than the erstwhile year. Operating ratio improved arsenic well, with the fleet moving astatine 21.2 joules per terahash — down from 28 J/TH past May.
Beyond mining, Riot is positioning itself for maturation successful the AI and high-performance computing (HPC) sectors. In May, the institution closed the acquisition of 355 acres of onshore adjacent its Corsicana installation successful Texas. CEO Jason Les said the tract volition enactment the improvement of information centers tailored for endeavor and hyperscale clients, noting that these centers necessitate importantly larger footprints than accepted mining operations.
To pb this effort, Riot hired manufacture seasoned Jonathan Gibbs arsenic Chief Data Center Officer. The determination signals Riot’s ambition to diversify beyond bitcoin and into the fast-growing marketplace for AI-ready infrastructure.
RIOT shares are higher by 3.4% successful Tuesday trading.
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