Summary
- Riot Platforms announced that their total revenue for 2024 increased by 34.2% compared to the previous year.
- The company reported that operating profit grew to $109.4 million along with revenue.
- Despite reduced mining output, they explained that performance was maintained through increased hash rate despite the halving effect.
Riot Platforms, the world's largest Bitcoin (BTC) mining company, has reported its mining revenue.
According to crypto media TheBlock on the 25th, Riot Platforms announced in its earnings report that total revenue for 2024 increased by 34.2% year-over-year to $376.7 million. The report also showed that Riot Platforms recorded an operating profit of $109.4 million.
Despite the increase in revenue and profit, Riot Platforms' total Bitcoin mining output decreased. In 2024, Riot Platforms mined 4,828 bitcoins, approximately 1,800 fewer than the 6,626 bitcoins mined in 2023.
Jason Les, CEO of Riot Platforms, explained, "It's noteworthy that we maintained strong performance even with a 67% increase in hash rate due to the Bitcoin halving."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
