Riot Platforms' Bitcoin production in May decreased by 43%, planning infrastructure upgrades to cope with the halving impact.

Bitcoin mining company Riot Platforms produced 215 $BTC in May, a 43% decrease from the previous month. The reduction in mining revenue is a direct result of the Bitcoin halving on April 20th. Riot had planned infrastructure upgrades in advance to maintain production levels post the halving event. Riot aims to achieve a total hash rate of 31 EH/s by the end of 2024 and 41 EH/s by 2025. To achieve this goal, the company has signed a long-term primary procurement agreement with MicroBT, including an initial order for 33,280 mining machines for new mining facilities.