Riot Blockchain Announces August Production and Operations Updates
September 08 2021 - 4:45PM
Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot”, “Riot Blockchain”
or the “Company"), a Nasdaq-listed industry leader in Bitcoin
(“BTC”) mining and hosting, announces its August production and
operations updates, including its unaudited Bitcoin production for
August 2021 and its miner deployment status.
Production and Operations Updates
- In August 2021, Riot produced 441 BTC, an increase of
approximately 451% over its August 2020 production of 80 BTC.
- Year to date through August 2021, the Company produced a total
of 2,051 BTC, an increase of approximately 221% over its production
during the same 2020 period of 639 BTC.
- As of August 31, 2021, Riot held approximately 3,128 BTC, all
of which were produced by its self-mining operations.
- The Company currently has a deployed fleet of approximately
22,050 miners, with a hash rate capacity of 2.2 exahash per second
(“EH/s”).
Riot plans to continue providing monthly operational updates and
unaudited production results through the end of 2021. These updates
are intended to keep shareholders informed of the Company’s mining
and operations development as it continues to build additional
Bitcoin mining infrastructure.
Miner Deployment Updates
As part of a December 2020 purchase order with Bitmain
Technologies Limited (“Bitmain”), approximately 3,600 S19 Pro
Antminers (110 TH) recently received at Riot’s Whinstone Facility
are expected to be deployed by the end of September 2021. By the
end of September 2021, Riot anticipates that it will have a total
of 25,650 Antminers in operation, utilizing approximately 83
megawatts (“MW”) of energy, with an estimated hash rate capacity of
2.6 EH/s.
Infrastructure and Hash Rate Growth
The previously disclosed expansion of the Company’s Whinstone
Facility continues, including delivery of the structural steel and
power transformers for the expanding electrical substation. The
underground and concrete infrastructure is now complete for the
first new building, referenced as Building “D”, in the current
four-building expansion program, while drainage installation and
site access road development are well underway.
The expansion project at the Whinstone Facility includes four
additional buildings, referenced as D, E, F and G, totaling
approximately 240,000 sq/ft with 400 MW of capacity. This expansion
is anticipated to provide the capacity to house approximately
112,000 S19 series Antminers when completed.
By Q4 2022, Riot anticipates a self-mining total hash rate
capacity of 7.7 EH/s, assuming full deployment of approximately
81,150 Antminers acquired from Bitmain. Of this mining fleet,
approximately 95% will be the latest generation S19 series model of
miners. Upon full deployment, the Company’s total self-mining
fleet is expected to consume approximately 257 MW of energy, with
approximately 206 MW deployed at Riot’s Whinstone Facility and
approximately 51 MW deployed at Coinmint, LLC’s facility. In
addition to the Company’s self-mining operations, Whinstone hosts
approximately 200 MW of institutional Bitcoin mining clients.
About Riot Blockchain, Inc.
Riot Blockchain (NASDAQ: RIOT) focuses on mining Bitcoin, and
through Whinstone, its subsidiary, hosting Bitcoin mining equipment
for institutional clients. The Company is expanding and
upgrading its mining operations through industrial-scale
infrastructure development and latest-generation miner procurement.
Riot is headquartered in Castle Rock, Colorado, and the
Whinstone Facility operates out of Rockdale, Texas. The Company
also has mining equipment operating in upstate New York under a
co-location hosting agreement with Coinmint, LLC. For more
information, visit www.RiotBlockchain.com.
Safe Harbor
Statements in this press release that are not historical facts
are forward-looking statements that reflect management’s current
expectations, assumptions and estimates of future performance and
economic conditions. Such statements are made in reliance on the
safe harbor provisions of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. 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. Forward-looking statements 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. These forward-looking
statements may include, but are not limited to, statements about
the benefits of the acquisition of Whinstone, including financial
and operating results, and the Company’s plans, objectives,
expectations and intentions. Among the risks and
uncertainties that could cause actual results to differ from those
expressed in forward-looking statements, include, but are not
limited to: unaudited estimates of BTC production; our future hash
rate growth (EH/s); our expected schedule of new miner deliveries;
our ability to successfully deploy new miners; MW capacity under
development; the integration of the businesses of the Company
and Whinstone may not be successful, or such integration may take
longer or be more difficult, time-consuming or costly to accomplish
than anticipated; failure to otherwise realize anticipated
efficiencies and strategic and financial benefits from the
acquisition of Whinstone; and the impact of COVID-19 on us, our
customers, or on our suppliers in connection with our estimated
timelines. Detailed information regarding other factors that
may cause actual results to differ materially from those expressed
or implied by statements in this press release may be found in the
Company's filings with the U.S. Securities and Exchange Commission
(the “SEC”), including in the sections entitled "Risk Factors" and
“Cautionary Note Regarding Forward-Looking Statements” of the
Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2020, and our other filings with the SEC, including,
but not limited to the additional risk factors set forth in the
Company’s Current Report on Form 8-K filed with the SEC on May 26,
2021, copies of which may be obtained from the SEC's website
at www.sec.gov. All forward-looking statements included
in this press release are made only as of the date of this press
release, and the Company disclaims any intention or obligation to
update or revise any forward-looking statements to reflect events
or circumstances that subsequently occur, or of which the Company
hereafter becomes aware, except as required by law. Persons reading
this press release are cautioned not to place undue reliance on
forward-looking statements.
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Media Contact - Trystine Payfer
Riot Blockchain, Inc.
PR@riotblockchain.com
Investor Contact - Phil McPherson
Riot Blockchain, Inc.
303-794-2000 ext. 110
IR@riotblockchain.com
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