According to its annual report for the year ended December 31, crypto mining and data center hosting company Riot Platforms experienced record total revenue in 2023.
Its total revenue increased 8% from $259.2 million in 2022 to $280.7 million in 2023.
Most of this revenue, $189 million or 67%, came from Bitcoin mining.
This is a 20% increase over the previous year, attributed to higher Bitcoin production and an increase in its price.
Despite reducing its energy use by 95% during peak power demand, Riot's North American facility in Rockdale, Texas, saw a 19% increase in Bitcoin production, from 5,554 BTC in 2022 to 6,626 BTC in 2023.