Business
Riot Announces December 2022 Production and Operations Updates
Riot Achieves Numerous Key Milestones and Produces All-Time High of 659 Bitcoin in December 2022 Castle Rock, CO, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Riot
About this update from Riot Platforms, Inc.
[{"type":"text","content":"Riot Achieves Numerous Key Milestones and Produces All-Time High of 659 Bitcoin in December 2022\nCastle Rock, CO, Jan. 04, 2023 (GLOBE NEWSWIRE) -- 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 December 2022. Bitcoin Production and Operations Updates for December 2022 Riot produced 659 BTC, an increase of approximately 55% as compared to December 2021 production of 425 BTC.Riot earned $4.9 million in power credits as a result of curtailment activity, equivalent to approximately 290 Bitcoin using the December 2022 weighted average daily closing Bitcoin price of $16,967.Riot held approximately 6,952 BTC, all produced by the Company’s self-mining operations, as of December 31, 2022.Riot sold 600 BTC, generating net proceeds of approximately $10.2 million. Riot had a deployed fleet of 88,556 miners, with a hash rate capacity of 9.7 exahash per second (“EH/s”), as of December 31, 2022. “Riot achieved a number of key milestones during the month of December,” said Jason Les, CEO of Riot. “We successfully deployed an additional 16,128 S19-series miners, bringing our hash rate capacity to a new all-time high of 9.7 EH/s. Additionally and as previously indicated in our last monthly production update, we transitioned to a new mining pool in early December. Based on our expanded hash rate capacity and while predominantly operating in our new mining pool, Riot achieved a new record of 659 Bitcoin produced this past month. “In late December, Texas and much of the country experienced severe winter weather (“the December storm”), significantly disrupting the holiday season for many Americans. A portion of Riot’s operations at our Rockdale Facility were also unfortunately impacted by the December storm, as some sections of piping in Buildings F and G, our immersion buildings, suffered damage and need replacement, impacting approximately 2.5 EH/s of our total hash rate capacity. Our team is working diligently on the necessary repairs, which we anticipate will take a number of weeks, during which time the affected hash rate will come back online incrementally. Additionally, in anticipation of the December storm, Riot voluntarily curtailed operations in order to ensure the safety of our employees and to c...