Bitcoin Production and Operations Updates for
Comparison (%) | ||||||||
Metric | Month/Month | Year/Year | ||||||
Bitcoin Produced | 520 | 619 | 740 | -16% | -30% | |||
Average Bitcoin Produced per Day | 16.8 | 20.0 | 23.9 | -16% | -30% | |||
Bitcoin Held1 | 7,648 | 7,362 | 6,978 | 4% | 10% | |||
Bitcoin Sold | 212 | 590 | 700 | -64% | -70% | |||
Bitcoin Sales - Net Proceeds | -62% | -31% | ||||||
Average | 5% | 129% | ||||||
Deployed | 12.4 EH/s | 12.4 EH/s | 9.3 EH/s | - | 33% | |||
Deployed Miners1 | 112,944 | 112,944 | 82,656 | - | 37% | |||
Power Credits2 | n/a | 435% | ||||||
Demand Response Credits3 | 98% | 116% | ||||||
1. As of month-end. 2. Power curtailment credits. 3. Credits received from participation in 4. Unaudited, estimated. | ||||||||
“Riot had a strong month in January, mining 520 Bitcoin while utilizing our unique power strategy,” said
“As we approach the halving, which is expected to occur in
Infrastructure Update
Riot is currently developing Phase 1 of the Company’s second large-scale facility, the Corsicana Facility, which will add an additional 400 megawatts (“MW”) of capacity upon completion of this initial phase. Once fully developed, the Corsicana Facility will have up to 1 gigawatt in total capacity.
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 29 EH/s by the end of 2024.
In
Collectively, the two purchase orders will add 26 EH/s to Riot’s self-mining capacity. Deployment of these miners is expected to begin in Q1 2024 and to be completed by the second half of 2025.
Upon full deployment in 2025, Riot anticipates a total self-mining hash rate capacity of 38 EH/s.
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 data center hosting 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
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Riot’s Corsicana Facility
Riot is currently developing Phase 1 of the Company’s second large-scale facility, the Corsicana Facility, which will add an additional 400 megawatts (“MW”) of capacity upon completion of this initial phase.
Estimated Hash Rate Growth
Estimated Hash Rate Growth
2024 GlobeNewswire, Inc., source