Riot has reduced its hashrate projections due to delays in expansion at its recently acquired Kentucky facility.
Bitcoin mining giant Riot Platforms has posted a 65% year-on-year increase in revenue but has had to hamper its hashrate expansion plans due to challenges at its United States facilities.
“Riot recorded $84.8 million in revenue this quarter, representing a 65% increase over the same quarter in 2023,” said CEO Jason Les in an announcement on Oct. 30.
A “significant increase in deployed hash rate allowed us to produce 1,104 Bitcoin this quarter,” he added before saying that this was in line with production in Q3, 2023, despite the halving.
