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Bitcoin Miner Riot Platforms Mines 450 BTC Worth Over $49M in June

The firm’s hash rate dipped 5% month-over-month to 29.8 EH/s but remained 162% higher year-over-year.

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Riot Platforms mined 450 BTC in June, continuing its post-hiatus operations with a monthly haul valued at roughly $49.26 million. The output is part of the company’s renewed focus on self-mining, following a shift in resources earlier in the year.

Compared to June 2024, the company mined 76% more bitcoin. However, June’s total dropped 12% from the 514 BTC it produced in May.

Riot Mining Recovers After Pause

Riot sold part of its bitcoin holdings last month, generating around $41.7 million in revenue. Its total reserves now stand at 19,273 BTC.

The firm’s mining performance came amid a slight dip in its operational hash rate, which fell 5% month-over-month to 29.8 EH/s. Despite the decline, this figure is 162% higher than it was at the same period last year.

Meanwhile, mining efficiency remained steady at 21.2 joules per terahash. This marks an 18% performance improvement compared to June 2024.

Notably, this is the third consecutive month Riot has resumed bitcoin production after pausing in January. The pause was tied to a power reallocation at its Corsicana, Texas, facility for AI and high-performance computing projects.

In addition to mining, Riot earned energy credits through the Four Coincident Peak (4CP) program by ERCOT. The initiative aims to reduce grid strain during peak summer demand in Texas.

CEO Jason Les said participation in ERCOT’s demand response programs is now core to Riot’s operating strategy. He added that this approach helps balance business goals with regional energy reliability.

Riot’s Market Value Holds Above $4B

Earlier in April, Riot mined 463 BTC and sold slightly more, 475 BTC, for $38.8 million. The month also saw the company complete a major infrastructure acquisition to support future operations.

In line with its broader strategy, Riot operates fully as a self-mining company and ranks among the top U.S. bitcoin miners. Following the update, its stock (RIOT) traded at $12.17, with a market valuation of $4.35 billion.

At the time of writing, BTC hovered around $109,000. It had risen 0.2% in the past 24 hours and nearly 85% year-on-year, contributing to the firm’s strong valuation.

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Jonathan Agozie

Jonathan Agozie is a writer dedicated to delivering clear, well-researched, and technically accurate content on blockchain, cryptocurrency, and Web3 technologies. With a strong background in these fields, he simplifies complex topics for a broad audience, ensuring clarity without compromising depth.