Riot Platforms has released its December 2024 production update, highlighting a 4% Bitcoin production increase and the completion of the first phase of the Corsicana Facility project.
Increase in Bitcoin Production
In December 2024, Riot Platforms mined 516 Bitcoin, marking a 4% increase compared to November. The company continues to enhance its operational hash rate, achieving the mining of 4,828 Bitcoin throughout the year.
Completion of Corsicana Facility Phase One
Riot Platforms has completed the first phase of its Corsicana Facility as part of its capacity expansion. The company stated that full hash rate activation is ongoing to ensure power grid stability.
Financial Growth and Share Increase
By the end of 2024, Riot held 17,722 Bitcoin, reflecting a 141% increase from the previous year. The company also reported a 39% rise in Bitcoin held per share, highlighting a focus on enhancing shareholder value.
Riot Platforms demonstrated significant growth in 2024, increasing both its production and Bitcoin holdings. Analysts predict the company will continue to outperform its competitors in 2025.
