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super.money Leverages Salman Khan’s Star Power for ‘No Drama’ IPL Campaign

https://amoghavarshaonline.blogspot.com/2026/04/supermoney-leverages-salman-khans-star.html

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Miley Cyrus Leverages Oscars Appearance to Secure Major Film Soundtracks

https://amoghavarshaonline.blogspot.com/2025/12/miley-cyrus-leverages-oscars-appearance.html

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Riot leverages Texas power strategy to fund operations as BTC balance increases

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Riot Platforms, Inc. recently reported its June 2023 Bitcoin mining performance, revealing that it produced 460 Bitcoin while executing an effective power strategy.

The mining firm produced 40% fewer Bitcoin in June, mining just 460 BTC compared to 757 BTC in May.

Metric June 2023 May 2023 June 2022 Month/Month Year/Year Bitcoin Produced 460 676 421 -32% 9% Average Bitcoin Produced per Day 15.3 21.8 14.0 -30% 9% Bitcoin Held 7,250 7,190 6,654 1% 9% Bitcoin Sold 400 600 300 -33% 33% Bitcoin Sales – Net Proceeds $10.6 million $16.5 million $6.2 million -36% 71% Average Net Price per Bitcoin Sold $26,456 $27,568 $20,627 -4% 28% Deployed Hash Rate 10.7 EH/s 10.5 EH/s 4.4 EH/s 2% 143% Deployed Miners 95,904 94,176 42,455 2% 126% Power Sales $8.4 million $0.5 million $1.9 million 1,452% 338% Demand Response Revenue $1.6 million $2.3 million $0.7 million -29% 137%

Source: Riot

Despite the drop in sales, Riot was able to leverage its power strategy to generate substantial revenue equivalent to $10 million in revenue. As a result, the combined power sales and demand response revenue equated to an equivalent of a “361 BTC” increase based on the average price of Bitcoin during the month.

Jason Les, CEO of Riot, commented,

“June was a momentous month for Riot, as the results from our mining operations, power strategy and growth plans have all come together.

We announced an initial order of 33,280 MicroBT miners for our Corsicana Facility, which is expected to add 7.6 EH/s to our self-mining fleet and also provides optionality for future orders at the same terms.”

The additional MicroBT miners would increase Riot’s hash rate by 71%, given the current reported figure of 10.7 EH/s.

Bitcoin miners are selling BTC.

The news comes as other U.S. miners looked to capitalize on BTC’s recent price surge to secure profits. In June, BTC mostly traded above $25,000, peaking at $30,750.

According to Glassnode data analyzed by CryptoSlate, Bitcoin miners sold a notable amount of their mined Bitcoin in June to fund their operations. Data shows that Bitcoin miners’ exchange flow peaked at 4,710 BTC on June 20, marking the highest rate in the past five years.

MINER BITCOIN PRODUCED BITCOIN SOLD PERCENTAGE SOLD BTC HOLDINGS  TOTAL HOLDINGS SOLD Riot 460 BTC 400 BTC 87% 7,250 BTC 5.52% Marathon Digital 979 BTC 700 BTC 71.5% 12,538 BTC 5.58% Hut 8 70 BTC 217 BTC 310%* 9,136 BTC 2.38% Cleanspark 491 BTC 413 BTC 84% 529 BTC 78.07%

June BTC Miner Activity *(Based on June Production)

Comparatively, Riot sold fewer Bitcoins monthly as the company reported a sale of 400 Bitcoins in June 2023, a decrease of 33% from May 2023.

Riot’s power strategy

However, Riot’s unique power strategy allowed the company to maintain a “competitive edge” and contribute meaningfully to the broader energy grid during Texas’s June heatwave without relying solely on Bitcoin sales for revenue. Les explained,

“As temperatures in Texas reached near record levels during the month and power demand was high, we made dynamic decisions on our power usage based on market signals.

Through our participation in various market programs within ERCOT, the Company generated $8.4 million in power sales and $1.6 million in demand response revenue.”

According to Riot, the power strategy involves participation in ERCOT’s ancillary services and the Four Coincident Peak (4CP) program. The company effectively uses these services to balance electricity supply and demand, even during peak periods.

Riot then sells access to electrical load to ERCOT and receives compensation regardless of whether ERCOT requires a power down. Through the 4CP program, Riot voluntarily reduces power usage during peak periods and, in return, receives credits for future transmission costs.

The flexibility of its long-term Power Purchase Agreement allows Riot to sell power back to the market when it’s more profitable than mining Bitcoin.

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