Riot Blockchain released its January output report on Friday, revealing a 252% increase in bitcoin mined year over year.
By the end of the month, the company had produced 458 BTC, resulting in a total of 5,347 BTC. The amount created in January is up 7.8% from the 425 BTC produced in December.
Riot's stock jumped 6% in early Friday trading. Bitcoin, on the other hand, is up more than 4.8% on the day.
Riot presently has a fleet of 32,552 miners in operation, with a hashrate capacity of 3.4 exahash per second (EH/s) – hashrate refers to the total cumulative processing power utilized to mine bitcoin. However, the company has additional miners ready for deployment, with more on the way from Bitmain, a bitcoin server provider. Riot intends to have 46,244 miners with a hash rate capacity of about 4.7 EH/s once all miners have been deployed.
Riot expects a total self-mining hash rate capacity of 12.8 exahash per second by Q4 2022.
Riot will pause its Texas bitcoin mining operations to preserve electricity as the state is hit by cold and frigid conditions, according to a major Newswire. The company stated in today's production report that it has closely watched current weather conditions in Texas and their possible influence on energy supply and demand in the ERCOT grid, leading to the decision to halt mining activities at the Whinstone Facility.