The company still holds a large treasury and ramped up its infrastructure through a $ 14 million bitcoin sale and dumping over 30 million shares onto the market.
- Riot increased its mining fleet to over 44,000 miners and still has more than 3,000 left to deploy.
- The company’s bitcoin production rose 107% YoY.
- A $ 14 million bitcoin sale and a 30 million share offering strengthened the company’s cash position.
Bitcoin miner Riot released its Q2 bitcoin mining and production update on Tuesday, which highlights ongoing capitulation trends in the bitcoin mining industry, but Riot’s capitulation paid for expansion while others simply needed to stay afloat.