Riot Blockchain Mines 1,405 BTC in Q1

Nasdaq-listed mining company Riot Blockchain mined 1,405 BTC and posted a net profit of $35,6 million in the first quarter of the year, some figures that can be considered a record for the company.

In the fourth quarter of 2021, Riot extracted 1,354 BTC, with a 4% increase in production. 

The company has explained this by outpacing the increase in mining capacity in relation to the growth in the total Bitcoin hash rate. In 3 months, the company has increased its own indicator from 3.1 EH/s to 4.3 EH/s (by 39%).

The company’s income for the reporting period reached $79.8 million, the share of mining operations in it amounted to approximately 67% or $57.9 million.

The shares of Riot outpaced Bitcoin in terms of the depth of the fall on April.