We have witnessed in recent months, a number of Texas based miners have been using energy strategies to increase their revenues. Riot Platforms has taken advantage of being active in the Electric Reliability Council of Texas (ERCOT) market, supplying power when needed and switching off their systems to help balance the grid. It has a long-term power purchase agreement in place, enabling tit to keep the cost of mining bitcoin low. Through participation in these programs, during the month of June 2023 the company generated $8.4 million in power sales and $1.6 million in demand response revenue.
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