Giant Bitcoin Miner Sells Millions of Dollars of BTC Due to Bad Weather

Riot Platforms, one of the largest Bitcoin miners in the world, sold about 95% of the BTCs it produced in January, while experiencing losses in mining power due to bad weather conditions in Texas.

In a recent statement by Riot Platforms, what has happened in Texas in recent weeks bad weather and the impact of this situation on mining activities. negative effect was included. in January 740 BTC producing company, due to extraordinary conditions Sold 700 of them. In addition, the company operates at the Whinstone facility. two buildings days of sub-zero temperatures in Texas in December that you are damaged reported.

However, in the statement made, it was used in its operations in Texas. of 17,040 equipment in the province “severe winter weather” because of offline reported that.

On the other hand, since January was quieter compared to December, the mining company was in January compared to the previous month. Generated 12% more BTC. As a result of this production, approximately 740 BTC worth $17 million The company that acquired it, in order to both cover the losses and take advantage of the market opportunities, 700 BTCSold directly.

Approximately equivalent to $14 million This sale, which brought 94%represents the . According to the latest reports, as of January 31, the company has 6,978 BTC exists.

Hashrate targets delayed

Bitcoin miner Riot is slated for the winter storm that hit the US in December and put miners offline. damage determined for the first quarter due to 12.5 EH/s hashrate He said there will be a delay in meeting his goals.

Riot CEO Jason Les made a statement about hashrate targets. suggested winter conditions and included the following details:

Parts of the piping in Buildings F and G were damaged during severe winter storms in Texas in late December. As a result of this damage, our previously announced goal of reaching 12.5 exahash in total hash rate capacity in the first quarter of 2023 is expected to be delayed.

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