Riot Blockchain Record High Hash Rate – Bitcoin Magazine

Riot Blockchain has released an untested production and operational update for November 2022. Theo releasethe company produced 521 BTC, a 12% increase from the production of 466 BTC in November 2021. It sold 450 BTC, generated a net proceeds of $8.1 million and has a team consists of 72,428 deployed miners with a hash rate capacity of 7.7 exahash per second (EH/s) on Nov.

Jason Les, CEO of Riot said, “Riot once again hit a new record for total hash rate power in November, resulting in our highest monthly bitcoin production figure to date. .” He heralized this positivity, saying, “Despite this new level of production, output is expected to be around 660 bitcoins with our active hash rate for the month, assuming average performance. usually of the mining pool that we join. The variance within the mining pool can influence the results, and although this variance will balance out over time, it may not be stable in the short term. This discrepancy resulted in a lower than expected bitcoin yield in November compared to our hash rate.”

Bitcoin’s hash rate has dropped in recent months, hit a new all-time high and effectively make miners who don’t use advanced equipment unprofitable. This in turn has a impact on public companies to this market.


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