Seeking Alpha
2022-06-02 20:52:08

Riot Blockchain mines 466 bitcoins in May, lowers 2023 hash rate guidance

Riot Blockchain (NASDAQ:RIOT) has mined 466 bitcoins (BTC-USD) in May, a decline from 508 BTC in April, but elevated from just 228 BTC in May 2021, according to its monthly production and operation updates. As for its hash rate capacity, Riot (RIOT) is expecting to see 12.6 exahash per second ("EH/s") by January 2023, assuming full deployment of approximately 116,150 Antminer ASICs, but excluding any potential expected incremental productivity gains from the its utilization of 200 megawatts of immersion-cooling infrastructure, the company said. That compares with 12.8 EH/s in the prior view. Meanwhile, Riot (RIOT) sold 250 bitcoin (BTC-USD) in May for net proceeds of ~$7.5M. It has a deployed fleet of approximately 43,458 miners, with a hash rate capacity of 4.6 EH/s. Moreover, "our first immersion building, Building F, is filled with approximately 23,000 S19 series miners. Approximately 7,000 of those miners are staged in the immersion-cooling tanks and are

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