Posted 2/19/2024, 1:49:00 PM
Riot Blockchain's Energy Strategy Puts It in Pole Position for Bitcoin's Future
- Riot Blockchain more efficient than Marathon Digital at mining bitcoin, with costs around $2,000 per bitcoin vs $22,000 for Marathon
- Riot benefits from Texas energy grid that lets it sell power back to the market when mining unprofitable
- This flexibility helped Riot earn $71 million in power credits in 2023 by scaling back operations
- Riot better positioned for bitcoin "halving" when miner rewards cut in half every 4 years
- While Marathon mines more bitcoin currently, Riot has more long-term potential due to lower costs and energy strategy