Riot Blockchain, 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 August 2022.
Bitcoin Production and Operations Updates
- In August 2022, Riot produced 374 BTC, a decrease of
approximately 15% as compared to August 2021 production of 441 BTC,
while significantly reducing overall power costs through effective
employment of its proprietary power strategy.
- Riot earned an estimated $3.0 million in power credits as a
result of curtailment activity, to be credited against its power
invoices; the $3.0 million in power credits equates to
approximately 136 BTC, computed by using the August 2022 average
daily closing BTC price of $22,097.
- As of August 31, 2022, Riot held approximately 6,720 BTC, all
produced by the Company’s self-mining operations.
- In August 2022, Riot sold 350 BTC, generating net proceeds of
approximately $7.7 million.
- Riot currently has a deployed fleet of 46,658 miners, with a
hash rate capacity of 4.8 exahash per second (“EH/s”).
“August was another successful month for Riot in which we
continued to make significant progress on the expansion of our
Rockdale facility, including the deployment of an additional 6,347
S19j Pros in our immersion-cooled buildings, and producing Bitcoin
while further contributing to grid stability in Texas through the
continued exercise of our proprietary power strategy,” said Jason
Les, CEO of Riot. “The significant benefits received in August from
this strategy enhance our already industry-leading position as a
low-cost producer, and further strengthen our solid financial
position, providing us with ample resources to fund our compelling
growth opportunities as we drive Riot towards our vision of
becoming the world’s leading Bitcoin-driven platform.”
Mining Deployment and Shipment Update
Since its last monthly update, Riot received an additional 9,326
new S19j Pros and deployed 6,347 S19j Pros in its immersion-cooled
buildings, with an additional 6,336 miners staged for deployment.
Additionally, shipments of 10,193 S19j Pros have been initiated out
of Bitmain Technologies Limited (“Bitmain”) and are expected to be
received during September 2022. Upon deployment of the staged
miners, the Company expects to have a total of 52,994 miners
deployed with a hash rate capacity of approximately 5.4
EH/s.
Infrastructure Update
Throughout the month of August, Riot's engineering and
construction teams worked to advance the digital infrastructure
expansion project at Riot's Rockdale Facility.
Interior construction is nearing completion in Buildings D and
E, Riot’s newest two air-cooled buildings. In Building D, engineers
are working to complete installation of Riot's and ESS Metron’s
custom designed air-cooling rack system. Louvers that provide and
maintain proper airflow in the structure have been installed.
Testing of the medium voltage transformers is completed in Building
E.
Building F, Riot's first immersion-cooling building, continues
to operate successfully. The Company's second immersion-cooling
building, Building G, water cooling system is now 95% complete as
additional dry-coolers and water pumps have been installed. Miner
deployments continue in Building G, and additional miners have been
placed and await deployment.
Estimated Hash Rate Growth
By Q1 2023, Riot anticipates a total self-mining hash rate
capacity of 12.5 EH/s, assuming full deployment of approximately
115,450 Antminer ASICs, but excluding any potential incremental
productivity gains from the Company’s utilization of 200 MW of
immersion-cooling infrastructure. Substantially all of Company’s
self-mining fleet will consist of the latest generation S19 series
miner model. In addition to the Company’s self-mining operations,
Riot hosts approximately 200 MW of institutional Bitcoin mining
clients.
Human Resources
The Company is pleased to announce the hiring of Frank Durant,
as Vice President of Field Operations at Ferrie Franzmann
Industries, LLC (d/b/a ESS Metron) (“ESS Metron”), a wholly owned
subsidiary of Riot. Mr. Durant’s expertise is in the areas of
safety, finance, grid technology, renewable energy, and system
operations. Mr. Durant’s reputation is well developed and has been
recognized throughout his career as a leader in the energy
industry. The Company believes his knowledge and extensive
experience will contribute to additional growth and expansion of
new service opportunities at ESS Metron.
Conference Schedule
Riot will be presenting at the following upcoming
conferences:
- HC Wainwright & Co. Global Investment Conference held in
New York, NY on September 12th – 14th.
- Fidelity Investment Conference held in Boston, MA on September
14th.
- BTIG 2nd Annual Digital Assets Conference held virtually on
September 19th – 20th
- TXU Energy Summit held in Arlington, TX on September 27th.
- Crypto Mining Day hosted by Bank of America, held virtually on
September 29th.
- B. Riley Securities 2nd Annual Crypto Conference held virtually
on September 29th.
- YTexas Summit held in Arlington, TX on September
30th.
About Riot Blockchain, 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
outcomes.
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.riot.inc.
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 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's Rockdale Facility
- Riot Hash Rate Capacity Growth Updated August 2022
Alexis Brock
Riot Blockchain, Inc.
512-940-6014
PR@riotblockchain.com
Phil McPherson
Riot Blockchain, Inc.
303-794-2000 ext. 110
IR@riotblockchain.com
Riot Platforms (NASDAQ:RIOT)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Riot Platforms (NASDAQ:RIOT)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024