Riot Platforms (RIOT) announced on Tuesday its remarkable growth in bitcoin production for May, increasing to 514 BTC. This represents an 11% rise from April and a staggering 139% increase compared to the same month last year. The firm sold almost all newly mined bitcoin, achieving $51.3 million in revenue at an average price of $102,591 each.

Additionally, Riot’s hashrate jumped to 35.4 exahashes per second (EH/s), a 5% rise from April and a 142% increase year-over-year. Operating efficiency also saw improvement, running at 21.2 joules per terahash, down from 28 J/TH in May of last year.

As part of its strategy for growth beyond bitcoin mining, Riot is venturing into AI and high-performance computing sectors. In May, they finalized a purchase of 355 acres near Corsicana, Texas, aiming to construct data centers equipped for enterprise and hyperscale clients.

To spearhead this initiative, Riot appointed Jonathan Gibbs as the Chief Data Center Officer, highlighting their commitment to diversify operations and engage in the burgeoning market for AI infrastructure.

As of Tuesday’s trading session, RIOT shares rose by 3.4%.