CASTLE ROCK, CO. / Globe Newswire / May 3, 2023 / Riot
Platforms, Inc. (NASDAQ: RIOT) (“Riot” or “the Company”)
an industry leader in Bitcoin (“BTC”) mining and data center
hosting, announces unaudited production and operations updates for
Bitcoin Production and Operations Updates for April
- Riot produced 639 BTC, an increase of approximately 26% as
compared to April 2022 production of 508 BTC.
- Riot held approximately 7,112 BTC as of April 30, 2023, all
produced by the Company’s self-mining operations.
- Riot sold 600 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 April 30, 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 produced 639 Bitcoin in the month of April, continuing our
strong monthly mining results in 2023 amidst a competitive Bitcoin
mining environment, thanks to the dedication and hard work of our
teams,” said Jason Les, CEO of Riot. “Additionally, as we near
completion of the long-term expansion project at our Rockdale
Facility, our teams have been focused on operational enhancements
to increase efficiency, including improving cooling in Buildings D
and E through the installation of waterwalls. We also continue to
work on repairs to our damaged immersion building, Building G,
which remains on track to come back online in the second half of
Our Rockdale Facility is a best-in-class Bitcoin mining facility
and the expertise of our teams there is also being carried over
into the development of our new Corsicana Facility, which upon
completion will continue our track record of building and operating
premiere large-scale Bitcoin mining facilities.”
Mining Deployment Update
Riot ended the month of April 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).
Throughout the month of April, Riot’s engineering teams made
significant progress towards the build out of the Company's ongoing
400 megawatt ("MW") digital infrastructure expansion project at our
Rockdale Facility. In particular, in Building D, the installation
of water cooling pads has been completed, while in Building E, the
evaporative water wall system framing has been installed.
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
- Needham 18th Annual Technology & Media Conference on May
16th in New York City.
- Bitcoin 2023 May 18th – 20th in Miami.
- B. Riley 23rd Annual Institutional Conference May 24th – 25th
in Los Angeles.
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 data
center hosting 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; the impact of weather
events on our operations and results; our ability to successfully
deploy new miners; the variance in our mining pool rewards may
negatively impact our results of Bitcoin production; 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, 2022, 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
Riot Platforms (NASDAQ:RIOT)
Historical Stock Chart
From Oct 2023 to Nov 2023
Riot Platforms (NASDAQ:RIOT)
Historical Stock Chart
From Nov 2022 to Nov 2023