Riot Blockchain is Mining a Bunch of Bitcoin!

7/8/2022, 01:05 AM
Riot Blockchain is Mining a Bunch of Bitcoin!
Riot Blockchain, a leading cryptocurrency mining firm, mined 421 BTC in June this year - a considerable increase compared to the 243 BTC produced in June 2021.

The company has also started moving its miners from New York to Texas to reduce some of its costs during the peak energy months in the US. Despite the collapse of the digital asset industry, Riot Blockchain managed to keep up with its production pace during June, thanks in part to its participation in ERCOT's Four Coincident Peak (4CP) program.

As part of the 4CP program, Riot curtailed its energy consumption for a total of 8,648 megawatt-hours last month. The company is currently undergoing a transition of all its miners located at Massena, New York, to Texas - a move that is expected to reduce electricity costs by 50%.

Once complete, Riot's power station in Texas will have the capacity to supply up to 1.7 gigawatts of energy - enough to satisfy the electricity demand of over 2 million residents.

Read even more about it on CryptoPotato.