Riot Platforms has announced the cost of BTC mining.

Mining company Riot Platforms reported that the average cost of mining 1 BTC from July to October was $46,324. Riot Platforms is one of the largest US-based Bitcoin holders among mining companies.

According to a Riot Platforms report, the cost of mining the world's first cryptocurrency in 2024 was $35,376 per coin. A 52% increase in global hashrate increased overall costs, but the company partially offset these costs with loans.

Riot posted a net loss of $76.9 million in the first half of the year. The loss was driven by significant capital investments in infrastructure and equipment upgrades.

The company closed the third quarter with a net profit of $104.5 million. The main driver of revenue growth was increased Bitcoin mining revenue, which reached $93.3 million during the quarter. Over the three months, Riot mined 1,406 BTC, a 27% increase compared to July–October 2024.

CEO Jason Les said the company is investing heavily in data centers and wants to become a “multi-service data center operator.”

Founded in 2000 and based in Castle Rock, Colorado, the company was originally known as Riot Blockchain, Inc. In January 2023, it was renamed Riot Platforms. Riot operates its own mining facilities in Texas and Kentucky and designs and manufactures power distribution equipment for mining farms.

Riot currently holds nearly 20,000 BTC, making it the second-largest holder of the first cryptocurrency among miners and the seventh-largest among all public companies.

Earlier, American Bitcoin, co-founded by US President Eric Trump's son, announced the acquisition of 1,414 BTC for $163 million. Following the deal, the company's total assets reached 3,865 BTC.

Источник: cryptocurrency.tech