Riot Battles Texas Heat to Produce 410 BTC and Stabilize Energy Grid

 Riot Platforms mined 410 Bitcoin in July 2023. Although down 11% from June, it marked a 29% increase year-over-year. Meanwhile, net proceeds from Bitcoin sales rose to $12.1 million.

The Texas heatwave tested Riot‘s resilience. In response, the company curtailed more than 90% of its power usage on peak demand dates. As a result, Riot contributed to reducing overall power demand, ensuring no interruptions for consumers.

Additionally, repairs to Building G are advancing, with hash rate expected to return to full capacity over the coming months. This means Riot‘s self-mining hash rate capacity will reach 12.5 EH/s in the second half of 2023.

In conclusion, Riot‘s strategy helped both its Bitcoin mining and the Texas energy grid. Its contribution to stabilizing the energy grid emphasizes the role of mining companies in supporting community infrastructure.

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