CASTLE
ROCK, Colo., June 2, 2025
/PRNewswire/ -- Riot Platforms, Inc. (NASDAQ: RIOT) ("Riot" or "the
Company"), a Bitcoin-driven industry leader in
the development of large scale data centers for high performance
compute and bitcoin mining applications, today
announced the hiring of Jonathan
Gibbs as Chief Data Center Officer ("CDCO") to lead the
development of Riot's data center platform. In this role, Jonathan
will lead the strategic development and operations of this new
platform, which will focus on building and operating
state-of-the-art data centers specifically tailored to serve
hyperscale and enterprise tenants.
The creation of this new data center platform furthers Riot's
strategy to maximize the value of its assets by expanding into the
development of non-bitcoin-related data centers, which
diversifies the Company's revenues, enhances Riot's ability
to generate long-term cash returns for investors and strengthens
its capabilities to contract with the world's leading technology
companies. This additional platform will build on the
success of Riot's vertically-integrated strategy of utilizing
bitcoin mining at scale to create significant value
across its land and power portfolio and positions the Company to
capitalize on the upsurge in demand for digital infrastructure
driven by the growing need for cloud computing, AI and other
compute-intensive applications.
"We are excited to bring Jonathan on as Chief Data Center
Officer to lead our new platform," said Jason Les, CEO of Riot.
"Jonathan brings extensive expertise, strong industry
relationships, and a proven track record of successfully developing
data centers for hyperscale and enterprise tenants. Given the
significant amount of immediately available capacity within our
portfolio, we are looking forward to the opportunity to drive
continued shareholder value creation as we focus on aggressively
scaling data center development to meet the surging demand for high
performance computing."
Jonathan brings over 15 years of experience designing and
building large-scale, state-of-the-art data centers, delivering
high-quality infrastructure for hyperscale and enterprise tenants.
Jonathan has led the development of data centers totaling more than
one gigawatt of capacity, with a portfolio spanning North America, Europe, and Asia. Over his career, Jonathan has overseen
and contributed to infrastructure design, procurement,
construction, and sustainability initiatives representing more than
$17 billion in investment. Most
recently, he served as Executive Vice President of Product Delivery
at Prime Data Centers, where he led the design, development and
construction of data centers throughout the United States.
"I'm incredibly excited to join Riot and lead this new platform
which will leverage Riot's unique development expertise and asset
portfolio," said Jonathan Gibbs,
CDCO for Riot. "With a pipeline of over 1.7 gigawatts of power
immediately available and in close proximity to major markets, Riot
is uniquely positioned to develop data centers which will address
the strong market demand."
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 Bitcoin mining operations in central Texas and Kentucky, and electrical engineering and
fabrication operations in Denver,
Colorado, and Houston,
Texas.
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, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. 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," similar expressions and their
negatives are intended to identify forward-looking statements.
These forward-looking statements may include, but are not limited
to, statements relating to the Company's development at its
Corsicana Facility and the Company's plans, projections,
objectives, expectations, and intentions about future events and
trends that it believes may affect the Company's financial
condition, results of operations, business strategy, short-term and
long-term business operations and objectives and financial needs.
These forward-looking statements are subject to a number of risks
and uncertainties, including, without limitation: risks related to
the Company's growth, the anticipated demand for AI/HPC uses, the
feasibility of developing the Company's power capacity for AI/HPC
uses, competition in the markets in which the Company operates,
market growth, the Company's ability to innovate and expand into
new markets, the Company's ability to realize benefits from its
implementation of new strategies into its business, estimates of
Bitcoin production; our future hash rate growth
(EH/s); the anticipated benefits, construction schedule, and costs
associated with the development of our mining facilities in
Texas, Kentucky and elsewhere; our expected schedule
of new miner deliveries; our access to electrical power; 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; our megawatt capacity under development; risks related
to the Company's inability to realize the anticipated benefits from
immersion cooling; the inability to integrate acquired businesses
successfully, or such integration may take longer or be more
difficult, time-consuming or costly to accomplish than anticipated;
or the failure of the Company to otherwise realize anticipated
efficiencies and strategic and financial benefits from our business
strategies. 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, 2023, 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
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SOURCE Riot Platforms, Inc.
