Bitcoin Production and Operations Updates for
Comparison (%) | ||||||||||
Metric | Month/Month | Year/Year | ||||||||
Bitcoin Produced | 418 | 520 | 675 | -20% | -38% | |||||
Average Bitcoin Produced per Day | 14.4 | 16.8 | 24.1 | -14% | -40% | |||||
Bitcoin Held2 | 8,067 | 7,648 | 7,058 | 5% | 14% | |||||
Bitcoin Sold | - | 212 | 600 | N/A | N/A | |||||
Bitcoin Sales - Net Proceeds | - | N/A | N/A | |||||||
Average | N/A | N/A | N/A | |||||||
Deployed | 12.4 Eh/s | 12.4 Eh/s | 9.8 Eh/s | - | 26% | |||||
Deployed Miners2 | 112,944 | 112,944 | 87,264 | - | 29% | |||||
Power Credits3 | -53% | 121% | ||||||||
Demand Response Credits4 | -81% | -48% | ||||||||
- Unaudited, estimated.
- As of month-end.
- Power curtailment credits.
- Credits received from participation in
ERCOT demand response programs.
“Riot mined a total of 418 Bitcoin in February,” said
Infrastructure Update
Riot is currently developing Phase 1 of the Company’s second large-scale facility, the Corsicana Facility, which is expected to have 400 megawatts (“MW”) of developed mining capacity upon completion of this initial phase. Once fully developed, the Corsicana Facility is expected to have 1 gigawatt (1,000 MWs) in total developed mining capacity.
During the month of February, the structure for the first 100 MW building,
The 400 MW substation is expected to be energized by the end of
Estimated Hash Rate Growth
Riot anticipates achieving a total self-mining hash rate capacity of 31 EH/s by the end of 2024.
As previously disclosed, in
Collectively, the three purchase orders will add 28 EH/s to Riot’s self-mining capacity. Deployment of these miners intended for the Corsicana Facility is expected to begin in Q1 2024 and estimated to be completed by the second half of 2025. Deployment of the miners intended for the Rockdale Facility is expected to begin in Q2 2024 and be completed in Q3 2024.
Upon full deployment in 2025, Riot anticipates a total self-mining hash rate capacity of 41 EH/s.
Conference Schedule:
- Roth 36th Annual Conference held in
Dana Point, CA March 17 th – 19th. Empower Conference held inHouston, TX onMarch 26 th – 27th.
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’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
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
Investor Contact:
Phil McPherson
303-794-2000 ext. 110
IR@Riot.Inc
Media Contact:
Alexis Brock
303-794-2000 ext. 118
PR@Riot.Inc
Photos accompanying this announcement are available at
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Estimated Hash Rate Growth
Estimated Hash Rate Growth
100 MW building, Building A2
Also, during the month, our teams began pouring the foundation for the second 100 MW building, Building A2 , which is expected to be completed subsequent to Building A1 .
100 MW building, Building A1
During the month of February, the structure for the first 100 MW building, Building A1 , was completed and onsite teams made progress on the deployment of tanks for the immersion cooling systems within the building.
2024 GlobeNewswire, Inc., source