Riot Blockchain’s Bitcoin mining productivity dropped 28% YOY amid record Texas heat
Crypto mining agency Riot Blockchain (NASDAQ:) reported it produced fewer (BTC) in July 2022 than that in July 2021 after cutting down operations at its Texas facility.
In a Wednesday announcement, Riot stated its miners had produced 318 Bitcoin in July, greater than 28% lower than the 443 BTC the agency reported producing in July 2021. According to Riot CEO Jason Les, the agency curtailed operations by 11,717 megawatt-hours in July in response to growing demand on Texas’ power grid. Many components of the Lone Star State skilled a number of days with temperatures over 100 levels Fahrenheit, requiring further energy for air conditioners.