Tuesday, June 10, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

Bitcoin Miner Riot Platforms Generated Record $281 Million Revenue In 2023 – Details

February 25, 2024
in Bitcoin
Reading Time: 3 mins read
0 0
A A
0
Home Bitcoin
Share on FacebookShare on TwitterShare on E Mail


In line with its newest monetary report, Riot Platforms, one of many world’s largest Bitcoin mining and information heart internet hosting corporations, generated a file excessive by way of income in 2023.

A Breakdown Of Riot’s 2023 Monetary Report

In line with its annual report, Riot Platforms registered a record-breaking $280.7 million in complete income up to now yr. This determine represents an 8% improve from the $259.2 million earned in 2022.

Breaking down the info, Riot revealed that the Bitcoin mining income accounted for $189 million (about 67%) of the full income. In comparison with the 2022’s $150 million, the mining income grew by over 20% up to now yr.

In line with the report, the rise within the Bitcoin mining income was pushed by the agency’s increased Bitcoin manufacturing and rising value of BTC. In 2023, Riot Platforms mined 6,626 BTC, a 19% improve from the 5,554 cash produced inside the similar twelve-month interval in 2022.

In the meantime, the corporate generated important worth in different sectors of its operations, together with $64.3 million in engineering, $27.3 million from information heart internet hosting, and $0.1 million from different companies.

Curiously, Riot’s file income was not adequate to offset the upper expenditures in 2023, together with the agency’s mining capability, labor power, and energy bills. In consequence, the corporate recorded a internet lack of $49.5 million within the earlier yr.

Nevertheless, it’s value mentioning that Riot’s internet losses decreased considerably in 2023, shrinking from a whopping $509.6 million within the previous yr.

Jason Les, CEO of Riot Platforms, reacted in an announcement:

I’m happy to announce outcomes for Riot for 2023, which proved to be one other milestone yr in Riot’s ongoing growth as a number one vertically built-in Bitcoin miner. We achieved file ends in 2023, producing all-time highs of $281 million in complete revenues, 6,626 Bitcoin produced, and $71 million in energy credit earned from our distinctive energy technique.

How Riot Is Making ready For Bitcoin Halving

With the Bitcoin halving occasion lower than two months away, conversations have been swirling across the BTC mining business and the way miners are making ready for the numerous occasion. The halving occasion is anticipated to slash miners’ rewards and, consequently, their revenues in half.

Within the newest report, Riot revealed a 28% improve in its hash fee capability within the earlier yr, reaching a file 12.4 EH/s as of December 31, 2023. Curiously, the Bitcoin mining agency goals to even enhance its capability all through 2024.

Jason Les mentioned in regards to the firm’s plans: 

As a number one vertically built-in Bitcoin miner, coupling growth of our Corsicana Facility with a secured provide of modern miners from MicroBT, and our sturdy stability sheet offers Riot probably the most safe, seen path in our business to reaching our progress plans. Our targets are to achieve 28 EH/s in complete hash fee capability by the top of 2024, 38 EH/s by the top of 2025, and in the end 100 EH/s and past.

For readability, the hash fee refers back to the measure of the full computational energy getting used to mine and course of transactions on the Bitcoin community. 

BTC value at $51,609 on the every day timeframe | Supply: BTCUSDT chart on TradingView

Featured picture from iStock, chart from TradingView



Source link

Tags: BitcoinDetailsGeneratedmillionMinerPlatformsrecordrevenueRiot
Previous Post

Coinbase Suspends Trading for Status (SNT) with Immediate Withdrawal Access

Next Post

SBINFT’s Jangdeok Ko Links the Surge in NFT Piracy to the Ease of Token Minting

Related Posts

XRP Price Could Surge To $15 As Crypto Analyst Predicts ‘XRP Summer’
Bitcoin

XRP Price Could Surge To $15 As Crypto Analyst Predicts ‘XRP Summer’

June 9, 2025
KULR Technology Group Announces $300 Million ATM Offering To Invest In Their Bitcoin Treasury
Bitcoin

KULR Technology Group Announces $300 Million ATM Offering To Invest In Their Bitcoin Treasury

June 9, 2025
$106K Bitcoin A ‘Safer’ Buy Than $25K—XRP Lawyer Drops Bombshell
Bitcoin

$106K Bitcoin A ‘Safer’ Buy Than $25K—XRP Lawyer Drops Bombshell

June 9, 2025
Tokenisation Catapults Dubai’s Real Estate Market to $18B in May 2025
Bitcoin

Tokenisation Catapults Dubai’s Real Estate Market to $18B in May 2025

June 10, 2025
Strategy Buys 1,045 Bitcoin, Elevates Treasury to 582,000 BTC
Bitcoin

Strategy Buys 1,045 Bitcoin, Elevates Treasury to 582,000 BTC

June 9, 2025
Bitcoin Overtakes Ethereum In Daily NFT Sales Volume
Bitcoin

Bitcoin Overtakes Ethereum In Daily NFT Sales Volume

June 10, 2025
Next Post
SBINFT’s Jangdeok Ko Links the Surge in NFT Piracy to the Ease of Token Minting

SBINFT’s Jangdeok Ko Links the Surge in NFT Piracy to the Ease of Token Minting

Navigating the Future: Advanced Perspectives on Crypto Dusting Attacks | by Michael P. Di Fulvio | The Dark Side | Feb, 2024

Navigating the Future: Advanced Perspectives on Crypto Dusting Attacks | by Michael P. Di Fulvio | The Dark Side | Feb, 2024

The Best Bitcoin Hardware Wallet. When it comes to safely and securely… | by Bitcoin Basics | The Dark Side | Feb, 2024

The Best Bitcoin Hardware Wallet. When it comes to safely and securely… | by Bitcoin Basics | The Dark Side | Feb, 2024

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In