According to its latest annual financial report, leading U.S.-based mining firm Riot Blockchain (NASDAQ:RIOT) increased its hashing capacity by 460% and more than doubled the amount of Bitcoin held on its balance sheet in 2020.
Riot saw a 78% growth in total mining revenues from $6.7 million to $12 million, owing to the increase in operational hash rate from 101 pentahashes per second, or PH/s, as of December 2019 to 566 PH/s as of December 31.