Riot Platforms Q1 Production Dips 4% as Hashrate Climbs 26%
Riot Platforms just dropped its preliminary Q1 numbers. The company mined 1,473 BTC in the quarter, or 16.4 BTC per day—down 4% year-over-year.
It sold 3,778 BTC during the quarter, bringing in net proceeds of $289.5 million at an average price of $76,626. As of quarter-end, Riot held 15,680 BTC, including 5,802 that are restricted. That's down 18% from last year.
On the hashrate front, total deployed hashrate hit 42.5 EH/s, up 26% year-over-year. Average operating hashrate came in at 36.4 EH/s, a 23% increase. Energy efficiency improved to 20.2 J/TH, 4% better than last year.
Total power credits reached $21 million, up 171% from last year. Demand response credits alone hit $7.5 million, a 278% jump. Blended power costs fell to 3.0 cents per kWh—down 21% year-over-year.
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