Riot Platforms bitcoin production falls 19% in August vs. July (NASDAQ:RIOT)

Riot Platforms (NASDAQ:RIOT) mined 333 bitcoins (BTC-USD) in August, trailing the 410 produced in July and the 374 generated in the year-earlier period, it said Wednesday.

The miner’s deployed hash rate stood at 10.7 exahashes per second (EH/s), unchanged from the prior month and up from 4.8 EH/s a year before.

It now expects to achieve a total self-mining hash rate of 12.5 EH/s at its Rockdale Facility, part of which is in the process of being repaired after a severe winter storm in Texas late last year, by the end of this year.

And, upon full deployment of an initial order with MicroBT of 7.6 EH/s of bitcoin (BTC-USD) miners for its Corsicana Facility, Riot’s (RIOT) total self-mining hash rate is expected to reach 20.1 EH/s by mid-2024.

The company continued to offload BTC last month, selling 300 tokens at an average net price of $28,617 for net proceeds of $8.6M.

Also of note, Riot (RIOT) saw Power and Demand Response Credit reach a new monthly record at $31.7M, exceeding the total amount of credit received in 2022.

“The effects of these credits significantly lower Riot’s cost to mine Bitcoin,” said Riot CEO Jason Les.