Bitcoin Mining and Digital Infrastructure Platforms has announced standard financial results for 2024, as a result of a significant increase in mining and strategic acquisitions.
The company, which was included on the Nasdaq Stock Exchange, has informed its total revenue of $ 376.7 million in 2024, which increased more than 34 % from 2023 million dollars, despite the challenges in the cryptocurrency mining sector. Meanwhile, net income during the same period reached 109.4 million dollars.
This number is a sharp shift from a net loss of $ 49.4 million in the previous year.
Standard year for riots
The batch of revenue is primarily attributed to bitcoin mining operations, which generated $ 321 million – completely doubled $ 189 million recorded in 2023 – in order to increase bitcoin prices, as well as an increase in the operating retail rate.
Nevertheless, the company produced fewer bitcoin in 2024, taking advantage of 4,828 BTC compared to 6626 BTC in 2023. press releaseThe reduction was the result of the high mining costs, the half -Bitcoin event in April 2024, and an increase of 67 % in the global network retail rate.
RIOT has noticed that the average cost cost increases each bitcoin to $ 32,216 in 2024, a significant increase of $ 3,831 in 2023 due to low energy credit and the most competitive mining environment.
The company also revealed that the “unique” energy strategy helped reduce some cost pressure and achieve a comprehensive energy cost of 3.4 cents per kilowatt hour. The company received $ 33.7 million of energy credits during the year, although this decreased from 71.2 million dollars in 2023.
Among the most prominent in 2024 riots through the acquisitions. For example, bought Block Mining in July Mining Operations. In addition, the acquisition of E4A solutions has strengthened its engineering works and operational capabilities. The Corsicana facility was activated during the year, which is a milestone in riot growth initiatives.
AI and HPC Focus for 2025
To enhance the Bitcoin Return strategy, RIOT raised $ 579 million through its opening updated upper notes in December. Opply revenue was used for an additional 5,784 BTC, which increased the company’s Bitcoin’s holdings to 17,722 BTC by the end of 2024, which was 141 % on a yearly basis. this
The bitcoin treasury accumulated to the company to about $ 1.65 billion on the basis of market prices at the end of the year.
To move forward, RIOT said it is planning to take advantage of the opportunities for artificial intelligence (AI) and high -performance computing (HPC), especially in the Corsicana facility.
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