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Riot Announces February 2024 Production and Operations Updates
Riot Produces 418 Bitcoin in February 2024 and Provides Infrastructure Updates CASTLE ROCK, Colo., March 05, 2024 (GLOBE NEWSWIRE) -- Riot Platforms, Inc.
About this update from Riot Platforms, Inc.
[{"type":"text","content":"Riot Produces 418 Bitcoin in February 2024 and Provides Infrastructure Updates\nCASTLE ROCK, Colo., March 05, 2024 (GLOBE NEWSWIRE) -- Riot Platforms, Inc. (NASDAQ: RIOT) (“Riot” or “the Company”), an industry leader in vertically integrated Bitcoin (“BTC”) mining, announces unaudited production and operations updates for February 2024. Bitcoin Production and Operations Updates for February 2024 Comparison (%) Metric February 20241January 20241February 2023 Month/MonthYear/Year Bitcoin Produced 418520675 -20%-38% Average Bitcoin Produced per Day14.416.824.1 -14%-40% Bitcoin Held2 8,0677,6487,058 5%14% Bitcoin Sold -212600 N/AN/A Bitcoin Sales - Net Proceeds -$9.5 million$14.2 million N/AN/A Average Net Price per Bitcoin SoldN/A$44,860$23,656 N/AN/A Deployed Hash Rate2 12.4 Eh/s12.4 Eh/s9.8 Eh/s -26% Deployed Miners2 112,944112,94487,264 -29% Power Credits3 $1.0 million$2.2 million$0.5 million -53%121% Demand Response Credits4 $0.2 million$1.1 million$0.4 million -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 Jason Les, CEO of Riot. “During the month, we also announced a new purchase order with MicroBT for 31,500 miners to be installed at our Rockdale Facility. The installation of these miners will increase our mining efficiency and uptime, and will further expand hash rate capacity at our Rockdale Facility to 15.1 EH/s. Approximately 17,000 of the miners in this order will be used to replace miners that are not performing to our expectations. We expect to see significantly improved operating performance from our self-mining operations at our Rockdale Facility as these new miners are installed and begin operating, which we expect to commence in Q2 and to be completed in Q3 2024.” 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, Building A1, was completed and onsite teams made progress on the depl...