Riot Blockchain Boosts Bitcoin Mining to 514 BTC in May, Driving $51.3M Revenue

Riot Blockchain (RIOT) reported a significant uptick in its Bitcoin mining output, extracting 514 BTC in May, marking an 11% month-over-month growth and a robust 139% increase year-over-year. This surge underscores the firm’s expanding operational efficiency amid a competitive mining landscape. The majority of these freshly mined bitcoins were liquidated, resulting in approximately $51.3 million in revenue. Riot achieved an impressive average selling price of $102,591 per BTC, reflecting favorable market conditions during the period. This performance highlights Riot Blockchain’s strategic asset management and its ability to capitalize on prevailing cryptocurrency valuations, reinforcing its position within the digital asset mining sector.