Riot Blockchain Bitcoin Mined Rises to 511 in March

Bitcoin miner Riot Blockchain (RIOT) produced 511 bitcoin (BTC) during March, up 176% from 185 mined a year earlier. As of month's end, the company held 6,062 bitcoin on its balance sheet.

In a somewhat unusual move, Riot also sold 200 bitcoin during March at an average price of $47,090 each, for a total of roughly $9.4 million. The company earlier this week filed a shelf offering for the sale of up to $500 million in stock via an "at-the-market" program.

Riot received another 1,080 Bitmain S19j Pros during March, deployed 4,440 S19j Pros, and has another 5,030 units ready for deployment. There are also another 5,430 units that Bitmain has shipped and Riot expects to receive during April.

Once all of the machines have been put to work, Riot will have a total of 53,379 miners working, with a hashrate of about 5.4 EH/s. By January of next year, the company expects to have a hashrate capacity of 12.9 EH/s, which assumes full deployment of about 120,150 Antminer ASICs.

Riot's stock price is up marginally in after-hours action, but fell 7% during the regular session amid a broad sell-off for the bitcoin mining sector. Marathon Digital (MARA) shares dropped 9.2%, Hive Blockchain (HIVE) was down 5.2% and Hut 8 (HUT) waslower by 5.8%.