Bitcoin miner Riot Platforms Inc. made hundreds of thousands of {dollars} by promoting energy reasonably than producing the tokens within the second quarter because the crypto-mining business continued to grapple with the influence of low digital asset costs.
The Fortress Rock, Colorado-based firm had $13.5 million in energy curtailment credit in the course of the quarter, whereas producing $49.7 million in mining income. Riot booked $27.3 million in energy curtailment credit final yr and $6.5 million in 2021 from energy gross sales to the Electric Reliability Council of Texas, which is the grid operator for the Lone Star state.