• Riot Blockchain achieved an all-time high of 9.7 EH/s in hash rate capacity and mined 5,554 BTC in 2022.
• It had a total revenue of $260 million despite the bear market that reigned during the year.
• Riot tripled its hash rate capacity and finished the year at an all-time high of 9.7 EH/s in hash rate capacity.
Riot Blockchain’s Performance in 2022
Riot Blockchain reported a total revenue of nearly $260 million for 2022, a 22% increase compared to 2021, despite the devastating bear market that reigned during the bigger part of the year. It mined 5,554 BTC and boosted its hash rate capacity to an all-time high of 9.7 EH/s. The Colorado-based bitcoin miner produced 46% more bitcoin in 2022 than in 2021 but its BTC mining revenue stood at $156 million compared to the $184 million registered the year before due to crypto market collapse.
All Time High
CEO Jason Les described Riot’s performance as “remarkable” highlighting that they more than tripled their hash rate capacity leading to numerous monthly production records and finishing the year at an all-time high of 9.7 EH/s in hash rate capacity which is a testament to their hard work throughout 2022.
Rockdale Facility Expansion
Three new buildings at Riot’s Rockdale Facility were completed in 2022 with a fourth nearing completion in Q1 2023 when it will be fully operational adding additional 8MW power capacity for future expansion purposes allowing them to increase their hashing power without any additional outlay or capital expenditure on hardware or electrical equipment installation costs associated with mining cryptocurrency operations such as Bitcoin mining rigs and ASIC miners used by Riot Blockchain Inc today while maintaining strong financial position.
Heat Wave Impact
Despite this positive news Riot production levels shrank during summer due to heat wave affecting their efficiency but they still managed to mine 46% more Bitcoin during 2022 then 2021 reaching an impressive 5,554 BTC with total revenue of nearly 260 million US Dollars for 2022 making it one successful company even against all odds from bear markets and extreme weather conditions across USA during summer months last year .
This remarkable performance from Riot shows that even under difficult circumstances companies can thrive and develop if led by experienced team members who are able to stay ahead of competition constantly improving process flows related directly or indirectly towards cryptocurrency mining operations like those done by Riot Blockchain Inc over past few years helping them reach these astonishing results no matter what kind of challenges come along their way whether it comes from markets or nature itself proving that anything is possible if enough effort is put into achieving goals no matter how hard times may get .