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Riot Blockchain's Bitcoin mining productivity dropped 28% YOY amid record Texas heat
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Crypto mining firm Riot Blockchain reported it produced fewer Bitcoin (BTC) in July 2022 than that in July 2021 after scaling down operations at its Texas facility.In a Wednesday announcement, Riot said its miners had produced 318 Bitcoin in July, more than 28% less than the 443 BTC the firm reported generating in July 2021.
According to Riot CEO Jason Les, the firm curtailed operations by 11,717 megawatt-hours in July in response to increasing demand on Texas’ energy grid.
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