Riot Platforms mined 505 BTC in October, a 23% increase

Riot Platforms, one of the largest Bitcoin mining and digital infrastructure firms, reported a 23% increase in total Bitcoin mined in October. The company announced on November 4 that it had mined 505 BTC during the month, a notable rise from the 412 BTC produced in September. This marks Riot’s best monthly production since the 2024 Bitcoin halving.

The increased production is attributed to a growth in the company’s deployed hashrate and improved operational efficiency. Riot’s deployed hashrate rose to 29.4 exahashes per second (EH/s) in October, up from 28.2 EH/s in September. This boost in hashrate was partly due to the deployment of the latest MicroBT miners at the company’s Corsicana Facility, according to Riot’s CEO, Jason Les.

In addition to the production increase, Riot’s Bitcoin holdings grew to 10,928 BTC by the end of October, up from 10,427 BTC the previous month. Riot has not sold any BTC in the past two months, keeping its reserves intact.

While Riot saw a 23% increase in Bitcoin production, its competitor, CleanSpark, reported an even higher increase of 32% for the same period. CleanSpark mined 655 BTC in October, and its hashrate grew to 31.3 EH/s, with total BTC holdings reaching 8,701.

Despite the higher growth rate from CleanSpark, Riot remains a major player in the Bitcoin mining space, with substantial growth in both production and BTC holdings.

“October was another remarkable operational month in the books for CleanSpark. We also finalized the acquisition of GRIID Infrastructure Inc., adding more talented people to our team and a pipeline powered by the Tennessee Valley Authority (TVA) that we expect will take us to more than 400 MW in the state.”

Zach Bradford, chief executive officer of CleanSpark.

On October 30, 2024, CleanSpark completed the acquisition of GRIID Infrastructure.