Riot Blockchain Announces April Production and Operations Updates
May 10 2021 - 8:45AM
Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot”, “Riot Blockchain”
or the “Company"), one of the leading Nasdaq listed Bitcoin
mining companies in the United States, announces its April
production and operational updates, including its unaudited Bitcoin
(“BTC“) production for April 2021 and its latest miner delivery
status.
Production and Operations Updates
- In April 2021, Riot produced 206 BTC, an increase of
approximately 91% over its pre-halving April 2020 production of 108
BTC.
- Through April 2021, the Company produced a total of 697 BTC, an
increase of approximately 79% over its pre-halving BTC production
during the same period of 2020 of 389 BTC.
- As of April 30, 2021, Riot holds over 1,771 BTC, all of which
were produced by its mining operations.
The Company plans to continue to provide monthly operational
updates and unaudited production results through the end of 2021.
These updates are intended to keep shareholders informed of
Riot’s mining production as it continues to deploy its expanding
miner fleet.
Recent Miner Deliveries
As part of the August 2020 purchase orders with Bitmain, 6500
S19 Pro Antminers were shipped in early May 2021. Installation of
the 6,500 miners is expected to be completed in Q2 2021, and upon
full deployment of additional miners with Riot’s existing fleet,
Riot will have a total of 22,946 Antminers in operation, utilizing
approximately 73 megawatts (“MW”) of energy, with an estimated hash
rate capacity of 2.3 exahash per second (“EH/s”).
Hash Rate Growth
By Q4 2022, Riot anticipates a total hash rate capacity of 7.7
EH/s, assuming full deployment of its anticipated fleet of
approximately 81,146 Antminers acquired from Bitmain, 95% of which
will be the latest generation S19 series model of miners.
When fully deployed, the Company’s total fleet is expected to
consume approximately 257.6 MW of energy with an overall hash rate
efficiency of 33 joules per terahash (J/TH). This
demonstrates Riot’s commitment to being a market leader by building
one of the largest and most efficient Bitcoin mining fleets in the
industry.
Financial Update
The Company announces it will be filing its March 31, 2020
Quarterly Report on Form 10-Q on May 17, 2021.
About Riot Blockchain, Inc.
Riot Blockchain (NASDAQ: RIOT) focuses on cryptocurrency mining
of Bitcoin. The Company is expanding and upgrading its mining
operations by securing the most energy efficient miners currently
available. Riot is headquartered in Castle Rock, Colorado, and the
Company’s mining operations are located in upstate New York, under
a co-location hosting agreement with Coinmint. For more
information, visit www.RiotBlockchain.com.
Safe Harbor
The information provided in this press release may include
forward-looking statements relating to future events or the future
financial performance of the Company. Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Words such as "anticipates," “believes,” "plans,"
"expects," "intends," "will," "potential," "hope" and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are based upon current
expectations of the Company and involve assumptions that may never
materialize or may prove to be incorrect. Actual results and the
timing of events could differ materially from those anticipated in
such forward-looking statements as a result of various risks and
uncertainties. Detailed information regarding factors that may
cause actual results to differ materially from the results
expressed or implied by statements in this press release relating
to the Company may be found in the Company's periodic filings with
the U.S. Securities and Exchange Commission (the “SEC”), including
the factors described in the sections entitled "Risk Factors,"
copies of which may be obtained from the SEC's website at
www.sec.gov. The Company does not undertake any obligation to
update forward-looking statements contained in this press
release.
Investor Contact - Phil McPherson
Riot Blockchain, Inc.
303-794-2000 ext. 110
IR@riotblockchain.com
PR Contact
Riot Blockchain, Inc.
PR@riotblockchain.com
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