Despite a reduction in its fleet of mining machines and its hash rate capacity, Bitcoin Mining company Riot announced today that it produced 740 BTC last month, its new all-time high.
This is an increase of approximately 62% from the 458 BTC produced by the Texas-based company in January 2022, and approximately 12% from the 659 BTC generated in December 2022.
The record number of bitcoins mined, worth $16.8 million at current prices, came despite operational disruptions North America-based miners faced in late December due to extreme weather conditions.
Riot, which recently dropped “blockchain” from its name to become Riot Platforms, was one of the companies affected by the extreme weather and was forced to temporarily close its Rockdale, Texas factory.
“Unfortunately, as a result of this damage, our previously announced goal of achieving 12.5 PE/s of total hash rate capacity in Q1 2023 is expected to be delayed,” Riot CEO Jason Les said in an article. a statement.
The company said winter disruptions affected about 2.5 PE/s of its hash rate capacity, with a deployed fleet of 82,656 miners hitting a hash rate of 9.3 PE/s as of January 31, 2023.
Decrypt did not have an immediate response from Riot Platforms.
Riot Eyes Hash Rate Increase
Despite recent headwinds, the company said it hopes to increase its hash rate capacity in the near future.
Last month, Riot deployed 6,912 S19-series miners, while receiving 5,130 new S19 machines, ending January with around 1,152 miners staged for deployment.
Once deployed, the company plans to increase its fleet of mining machines to a total of 83,808 with a hash rate capacity of around 9.4 PE/s.
That number, however, could still increase as Riot has an additional 17,040 miners who are currently offline in Rockdale’s Building G, which was damaged during the December blizzards.
“We are grateful for our team’s progress, despite challenging weather conditions, and are evaluating several options to bring the approximately 1.9 PE/s of hash rate capacity still impacted in Building G online,” Les said.
Riot also revealed that it holds approximately 6,978 BTC as of January 31, 2023, all produced by the company’s mining operations. The company said it sold 700 BTC last month, generating net proceeds of around $13.7 million.
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