Austin, Texas – Riot Platforms, Inc., a leading Bitcoin mining company, recently held its Q2 2024 earnings conference call. The company reported significant growth in hash rate and discussed key milestones achieved during the quarter.

One of the highlights of the call was the company’s focus on developing a leading vertically integrated Bitcoin mining company. Riot Platforms emphasized its strategic pillars of developing significant scale operations, being a low-cost producer of Bitcoin, and building a strong balance sheet. The company showcased its success in energizing its Corsicana facility, increasing its total deployed hash rate significantly.

Despite challenges in the Bitcoin mining industry, such as the halving event and increased network difficulty, Riot Platforms has managed to keep its direct cost to mine Bitcoin competitive. The company also announced the acquisition of Block Mining, a move that adds significant operating capacity and hash rate potential to Riot’s portfolio.

Looking ahead, Riot Platforms plans to continue scaling its operations, aiming to reach 100 EH/s of total self-mining hash rate. The company is evaluating opportunities both domestically and internationally, considering factors like power costs, access to resources, and the regulatory environment.

As the Bitcoin mining industry evolves, Riot Platforms remains focused on maximizing its mining results and expanding its operations. With a strong balance sheet and strategic growth plans in place, the company is positioned to achieve its long-term goals in the rapidly changing cryptocurrency landscape.