Riot Announces October 2023 Production and Operations Updates
07 Novembro 2023 - 6:45PM
CASTLE ROCK, COLO. / Globe Newswire / November 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 October
2023.
Bitcoin Production and Operations
Updates for October 2023
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Comparison (%) |
Metric |
October 2023 |
September 2023 |
October 2022 |
Month/Month |
Year/Year |
Bitcoin Produced |
458 |
362 |
509 |
26% |
-10% |
Average Bitcoin Produced per Day |
14.8 |
12.1 |
16.4 |
22% |
-10% |
Bitcoin Held 1 |
7,345 |
7,327 |
6,825 |
0% |
8% |
Bitcoin Sold |
440 |
340 |
450 |
29% |
-2% |
Bitcoin Sales - Net Proceeds |
$12.5
million |
$9.0
million |
$8.7
million |
39% |
44% |
Average Net Price per Bitcoin Sold |
$28,408 |
$26,379 |
$19,339 |
8% |
47% |
Deployed Hash Rate 1 |
11.7
EH/s 2 |
10.9
EH/s 2 |
6.9
EH/s |
8% |
71% |
Deployed Miners 1 |
106,674 2 |
98,694 2 |
65,516 |
8% |
63% |
Power Credits 3,5 |
$1.0
million 6 |
$11.0
million 6 |
$0.2
million |
-91% |
469% |
Demand Response Credits 4,5 |
$1.8 million 6 |
$2.6 million 6 |
$0.5 million |
-31% |
261% |
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1. |
As of month end. |
2. |
Exahash per second (“EH/s”). Excludes 6,270 miners in October 2023
and 14,250 miners in September 2023 that are offline as a result of
damage to Building G from the severe winter weather in late
December 2022 in Texas. |
3. |
Power curtailment credits. |
4. |
Credits received from participation in ERCOT demand response
programs. |
5. |
The Company intends to disclose this figure in its monthly updates
if it exceeds $1 million for the current month. |
6. |
Power Credits and Demand Response Credits for September and October
2023 are estimates. |
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“October was another strong month for Riot as we
continued to focus on adding and optimizing hash rate,” said Jason
Les, CEO of Riot. “Riot’s mining operations generated 458 Bitcoin
during the month, an increase of 26% over September’s production.
As temperatures cooled in Texas in October, grid demand decreased
and therefore we ramped up our mining operations while still
generating Power and Demand Response Credits through our power
strategy. Combined, Power and Demand Response Credits received
equate to approximately 93 Bitcoin based on the average price of
Bitcoin during the month. Our total hash rate also increased thanks
to continued progress in repairs to one of our immersion buildings,
Building G. All of the replacement dry coolers for Building G have
now been received, and hash rate there will increase as our team
completes installation of the remaining dry coolers during
November.
“During October, MicroBT announced the launch of
their latest generation M60 series miner. As part of our first
purchase order with MicroBT announced in June, Riot will now
receive some M60 series miners in place of the previously agreed
M50 series. With this update, Riot’s fleet will continue to be at
the leading edge of new technological developments, and in
conjunction with our low cost of production and unmatched balance
sheet strength, will strongly position us ahead of the upcoming
halving.”
Estimated Hash Rate
Growth
In June 2023, Riot entered into a long-term
purchase agreement with MicroBT, which included an initial order of
33,280 Bitcoin miners for its Corsicana Facility. This initial
order has recently been updated to replace approximately 6,000
MicroBT M56S++ miners with approximately 6,000 MicroBT M66 miners.
Upon full deployment of this initial order by mid-2024, Riot’s
total self-mining hash rate capacity is expected to reach 20.2
EH/s.
Conference Schedule:
- 12th Annual Roth MKM Technology Event held in New York City,
November 15th.
- North American Blockchain Summit held in Fort Worth, November
15th – 17th.
- Wells Fargo TMT Conference held in Palos Verdes, CA, November
28th – 30th.
Investor Events
Riot will report third quarter 2023 financial
results on Wednesday, November 8th after the market close.
Human Resources
Update
Riot is currently recruiting for positions
across the Company. Join our team in building, expanding, and
securing the Bitcoin network.
Open positions are available at:
https://www.riotplatforms.com/careers.
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 outcomes.
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.
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; 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; megawatt
(“MW”) 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.
Investor Contact:
Phil McPherson 303-794-2000 ext.
110 IR@Riot.Inc
Media Contact: Alexis Brock 303-794-2000 ext.
118 PR@Riot.Inc
An Excel table accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9a8be2f5-89fc-4008-8bdd-1d979b653ae6
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