Riot Blockchain gained 466 BTC in May

Nasdaq-listed mining company Riot Blockchain mined 466 BTC in May, up 104% from the same period in 2021.

As of May 31, the firm has amassed 6,536 BTC self-mined cryptocurrency reserves. Riot sold 250 BTC last month for a net proceeds of approximately $7.5 million.

The company reportedly has a fleet of 43,458 miners with a total hash rate of 4.6 EH/s. Riot Blockchain CEO Jason Les said that with the deployment of an additional 7855 machines, the figure will increase to 5.4 EH / s.

In April, the company’s shares, like those of other companies related to cryptocurrencies, outpaced bitcoin in terms of the depth of the fall. According to a new industry metric from Arcane Research, Riot shares, along with Marathon Digital, are the most overvalued among public miners.

In May, Riot shares fell 36.62% to $6.87 at the close of trading on June 2.