Bitcoin miner production falls in June on power curtailment, weather
Bitcoin miners strategically curtailed operations in June to avoid costly peak demand charges in Texas, sacrificing short-term production for lower costs.
Several Bitcoin mining firms reported lowered BTC production in June, mainly due to power curtailment in Texas.
Riot Platforms produced 450 Bitcoin (BTC) in the month, a 12% decline from May, when the firm mined 514 BTC, it stated in an announcement on Thursday.
Riot CEO Jason Les said the firm’s power strategy includes “economic curtailment” and voluntary participation in the Electric Reliability Council of Texas’s Four Coincident Peak (4CP) and other demand response programs.