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Riot Announces February 2023 Production and Operations Updates
Riot Achieves New All-Time High Hash Rate Capacity in February 2023 Castle Rock, CO, March 03, 2023 (GLOBE NEWSWIRE) -- Riot Platforms, Inc. (NASDAQ: RIOT)
About this update from Riot Platforms, Inc.
[{"type":"text","content":"Riot Achieves New All-Time High Hash Rate Capacity in February 2023\nCastle Rock, CO, March 03, 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 February 2023. Bitcoin Production and Operations Updates for February 2023 Riot produced 675 BTC, an increase of approximately 55% as compared to February 2022 production of 436 BTC.Riot held approximately 7,058 BTC as of February 28, 2023, all produced by the Company’s self-mining operations. Riot sold 600 BTC, generating net proceeds of approximately $14.2 million. Riot had a deployed fleet of 87,264 miners, with a hash rate capacity of 9.8 exahash per second (“EH/s”), as of February 28, 2023, which excludes 17,040 miners that are offline as a result of damage to Building G from the severe winter weather in late December in Texas. “February was another month of operational excellence for Riot, during which we produced 675 Bitcoin in the shortest month of the year, and despite one of the largest increases in mining difficulty in recent history,” said Jason Les, CEO of Riot. “We have also continued to make progress on repairs to our immersion buildings, including Building G, where we now anticipate a return to full operations by the second half of 2022. Once achieved, this will bring back 1.9 EH/s of hash rate currently offline and not included in our reported hash rate capacity.” “I remain extremely excited about the future growth plans for Riot and our team’s ability to consistently work towards achieving our company’s vision to become the leading Bitcoin-driven infrastructure platform.” Mining Deployment and Shipment Update During the month of February, Riot deployed 4,608 S19-series miners, and ended the month with approximately 2,304 miners staged for deployment. Upon deployment of the staged miners, the Company expects to have a total of 89,568 miners deployed with a hash rate capacity of approximately 10.1 EH/s (which excludes 17,040 mines currently offline in Building G). Infrastructure Update The Company’s construction team continues to install wall louvers and water frames in Building E, while electrical teams continue to run electrical testing and deploy miners, with full completion of the building expected by e...