Riot reports 17K miners offline due to Texas weather

Crypto mining agency Riot Platforms — previously Riot Blockchain — reported that 17,040 rigs deployed at its operations in Texas have been offline resulting from “extreme winter climate” within the state.

In line with a Feb. 6 announcement, Riot reported two of the buildings at its Whinstone facility in Rockdale, Texas have been broken in December 2022 because the state skilled days of sub-zero temperatures. From Dec. 22 to Dec. 25, temperatures throughout many components of Texas — and the US — dropped to under freezing.

“Some sections of piping in Buildings F and G have been broken throughout the extreme winter storms in Texas in late December,” mentioned Riot CEO Jason Les. “On account of this harm, our beforehand introduced goal of reaching 12.5 [exahashes per second] in complete hash price capability in Q1 2023 is anticipated to be delayed.”

Les mentioned that the damages initially lowered the power’s hash price capability by 2.5 EH/s, with the corporate later capable of restore 0.6 EH/s following repairs. In line with Riot, there have been 82,656 rigs working with a hash price capability of 9.3 EH/s as of Jan. 31, when the corporate reported producing 740 Bitcoin (BTC) — price roughly $17 million on the time of publication.

Although many components of the US skilled extreme temperature drops in December amid vacation journey, main cities in Texas together with Dallas and Austin additionally went by a serious ice storm in early February. 1000’s of residents have been with out energy and lots of tree branches and limbs broke from the load of amassed ice, damaging energy traces and vehicles, and blocking roads.

It’s unclear whether or not Riot miners have been equally affected by the storm. Nonetheless, the corporate didn’t report curbing operations resulting from demand on Texas’ power grid throughout the current freeze.

Riot additionally reported promoting 700 BTC for roughly $13.7 million in January, with the corporate holding 6,978 BTC as of Jan. 31. The mining agency reported promoting cash following excessive warmth within the Lone Star State in July 2022.

Associated: Crypto miners in Texas shut down operations as state experiences excessive warmth wave

In July 2022, Riot mentioned it deliberate to maneuver a lot of its mining rigs from a New York facility to Texas in an effort to scale back the agency’s working bills. Shares of Riot inventory closed down 2.3% at $6.68 on the Nasdaq.

Cointelegraph reached out to Riot Platforms, however didn’t obtain a response on the time of publication.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button