Riot Announces March 2023 Production and Operations Updates
Riot Platforms, Inc. (NASDAQ: RIOT) (“Riot” or “the
, an industry leader in Bitcoin (“BTC”) mining
and data center hosting, announces unaudited production and
operations updates for March 2023.
Bitcoin Production and Operations Updates for March
- Riot produced 695 BTC, an increase of approximately 36% as
compared to March 2022 production of 511 BTC.
- Riot held approximately 7,072 BTC as of March 31, 2023, all
produced by the Company’s self-mining operations.
- Riot sold 675 BTC, generating net proceeds of approximately
- Riot had a deployed fleet of 94,176 miners, with a hash rate
capacity of 10.5 exahash per second (“EH/s”), as of March 31, 2023,
which excludes 17,040 miners that are offline as a result of damage
to Building G from the severe winter weather in late December in
“Riot is proud to announce another strong month of production,
mining 695 Bitcoin in the month of March,” said Jason Les, CEO of
Riot. “This strong performance is a direct result of the hard work
our team members have put in over the past two years, in order to
get us near completion of our long-term expansion project at the
Rockdale Facility. Upon completion of the final buildout and
deployment of miners at our Rockdale Facility in April 2023, our
teams will remain focused on maximizing operating efficiencies to
further improve performance and results at the Rockdale Facility,
and on the continued development of our new Corsicana
Mining Deployment and Shipment Update
During the month of March, Riot deployed 6,912 S19-series
miners, and ended the month with approximately 800 miners staged
for deployment. Upon deployment of the staged miners, the Company
expects to have a total of 94,976 miners deployed with a hash rate
capacity of approximately 10.6 EH/s (which excludes 17,040 miners
currently offline in Building G).
In Building D, the main sections of the waterwall frames have
been installed. In Building E, Riot’s electrical teams have
completed electrical testing and continue to deploy final mining
In Buildings F and G, efforts continue to be focused on
repairing damaged cooling systems.
Estimated Hash Rate Growth
Due to the ongoing impact of damage incurred to Buildings F and
G during the severe winter storms in Texas in late December, Riot
now anticipates achieving a total self-mining hash rate capacity of
12.5 EH/s in the second half of 2023.
Riot is currently recruiting for positions across the Company.
Join our team in building, expanding, and securing the Bitcoin
Open positions are available at:
Riot will be presenting at the following upcoming
- Sequire Investor Summit in Puerto Rico on April 24-26th.
- Ladenburg Thalman Tech Expo in New York City on April
About Riot Platforms, Inc.
Riot’s (NASDAQ: RIOT) vision is to be the world’s leading
Bitcoin-driven infrastructure platform.
Our mission is to positively impact the sectors, networks and
communities that we touch. We believe that the combination of
an innovative spirit and strong community partnership allows the
Company to achieve best-in-class execution and create successful
Riot is a Bitcoin mining and digital infrastructure company
focused on a vertically integrated strategy. The Company has
Bitcoin mining data center operations in central Texas, Bitcoin
mining operations in central Texas, and electrical switchgear
engineering and fabrication operations in Denver, Colorado.
For more information, visit www.riotplatforms.com.
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 rely 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.
These forward-looking statements may include, but are not limited
to, statements about the benefits of acquisitions, 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 Bitcoin production; our future
hash rate growth (EH/s); the anticipated benefits, construction
schedule, and costs associated with the Navarro site expansion; our
expected schedule of new miner deliveries; our ability to
successfully deploy new miners; M.W. capacity under development; we
may not be able to realize the anticipated benefits from
immersion-cooling; the integration of acquired businesses 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 our acquisitions; and the impact of
COVID-19 on us, our customers, or on our suppliers in connection
with our estimated timelines. Detailed information regarding the
factors identified by the Company’s management which they believe
may cause actual results to differ materially from those expressed
or implied by such forward-looking statements in this press release
may be found in the Company’s filings with the U.S. Securities and
Exchange Commission (the “SEC”), including the risks, uncertainties
and other factors discussed under 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, 2021, as amended, and the other filings the
Company makes with the SEC, copies of which may be obtained from
the SEC’s website, 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 such 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 such forward-looking statements.
Riot Platforms, Inc
Riot Platforms, Inc.
303-794-2000 ext. 110
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