Riot’s Bitcoin Mining Uninterrupted, 400MW Facility Keeps Output Steady

Key Takeaways

• Riot reports steady growth in Bitcoin production and infrastructure deployment.
• The company mined 4,828 BTC in 2024 and increased its hash rate by over 150%.
• Riot aims to achieve 100 EH/s hash rate by 2027.

Riot, one of the leading Bitcoin mining companies, reported steady growth in Bitcoin production and infrastructure development, according to its December operations update.

The company, which operates multiple mining facilities in Texas and Kentucky, also reported advancements in increasing its hash rate and is aiming for a major boost in its Bitcoin mining capabilities.

Riot Eyes Major Hashrate Boost 

Riot’s December report  highlighted a 155% increase in its deployed hash rate for 2024.

The company attributes this surge to its ongoing efforts to ramp up production, particularly following Bitcoin’s halving event in April, which drove an increase in network difficulty and hash rate.

As part of its expansion plans, Riot completed the first phase of its Corsicana facility in Texas, with 400 MW of infrastructure now in place.

While miners have been installed, the company is taking a cautious approach to ensure optimal power quality, which has delayed some hash rates from coming online.

Looking ahead, Riot has set ambitious goals. With its Corsicana facility now operational and further expansion planned in Kentucky, the company aims to boost its throughput from its current 31.5 exahashes per second (EH/s) to over 100 EH/s by 2027.

Bitcoin Holdings Surge, Mining Output Grows

Riot also reported significant growth in its Bitcoin holdings, which surged by 141% year-over-year.

The company currently holds 17,722 BTC in addition to the Bitcoin it mines.

Riot has made strategic purchases of BTC as part of its corporate treasury, and it plans to continue these acquisitions to increase per-share yield as Bitcoin prices rise.

In December, Riot mined 516 Bitcoin, a 4% increase over the previous month.

For the full year, the company mined 4,828 BTC.

However, its average daily production fell from 20 BTC per day in December 2023 to 16.5 BTC per day in December 2024.

This decline can be attributed to the halving event, which reduced the reward for mining new blocks from 6.25 BTC to 3.125 BTC.