Bitcoin Miner Riot Platforms (RIOT) reported on Tuesday of strong production growth in May, mining 514 BTC-a 11% increase from April and a 139% jump compared to last year’s level. The company sold most of the new Bitcoin, making up $ 51.3 million in proceeds at an average price of $ 102,591 per token.
Riot’s hashrate also climbed, with a total -deploy computing strength of up to 35.4 exahashes per second, a 5% increase in April and 142% higher than last year. Operational efficiency has also improved, with the Armada running at 21.2 Joules per Teahash – down from 28 J/th last May.
Beyond mining, riot is self -positioning for growth in AI and high performance sectors (HPC). In May, the company closed the acquisition of 355 hectares of land near the Corsicana facility in Texas. CEO Jason Les said the site will support the development of data centers customized for business and hyperscale clients, noting that these centers require significantly larger foot traces than traditional mining operations.
To lead this effort, Riot hired industry veteran Jonathan Gibbs as Chief Data Center Officer. The move signals the ambition of the riot to vary beyond the bitcoin and the rapidly growing market for the AI infrastructure.
Riot shares are 3.4% higher in Tuesday trade.
