CASTLE ROCK, Colo.,
March 5, 2020 /PRNewswire/
-- Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot"
or the "Company"), one of the few Nasdaq listed public
cryptocurrency mining companies in the United States, has
issued a production update for the month of February 2020.
During February 2020, the Company
produced 91 newly mined bitcoins (BTC). At the beginning of the
month, Riot's mining facility consisted of 2,940 Bitmain S17s and
1,751 S9s. By the end of the month, the Company had successfully
completed its previously announced upgrades to its mining network,
and, as a result, was running 4,000 S17s and no longer operating
S9s. These enhancements have resulted in a 147% increase in average
daily run rate of bitcoins mined, as compared to the average daily
production run rate for the month of December 2019. Future changes in network-wide
difficulty rate or hashrate will impact Riot's production of
BTC.
As previously announced, the Company intends to release the
monthly unaudited production from its mining operation through
May 2020 and then re-evaluate how
best to continue keeping its shareholders apprised.
About Riot Blockchain
Riot Blockchain (NASDAQ: RIOT)
specializes in cryptocurrency mining with a focus on bitcoin. Riot
also holds non-controlling investments in blockchain technology
companies. Riot is headquartered in Castle Rock, Colorado, and the Company's
mining facility is located in Oklahoma
City. 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,"
"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 Securities and Exchange Commission, 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.
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SOURCE Riot Blockchain, Inc.