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Riot Announces March 2023 Production and Operations Updates
Riot Achieves New All-Time High Hash Rate Capacity in March 2023 Castle Rock, CO, April 05, 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 March 2023\nCastle Rock, CO, April 05, 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 March 2023. Bitcoin Production and Operations Updates for March 2023 Riot produced 695 BTC, an increase of approximately 36% as compared to March 2022 production of 511 BTC.Riot held approximately 7,072 BTC as of March 31, 2023, all produced by the Company’s self-mining operations. Riot sold 675 BTC, generating net proceeds of approximately $16.7 million. Riot had a deployed fleet of 94,176 miners, with a hash rate capacity of 10.5 exahash per second (“EH/s”), as of March 31, 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. “Riot is proud to announce another strong month of production, mining 695 Bitcoin in the month of March,” said Jason Les, CEO of Riot. “This strong performance is a direct result of the hard work our team members have put in over the past two years, in order to get us near completion of our long-term expansion project at the Rockdale Facility. Upon completion of the final buildout and deployment of miners at our Rockdale Facility in April 2023, our teams will remain focused on maximizing operating efficiencies to further improve performance and results at the Rockdale Facility, and on the continued development of our new Corsicana Facility.” Mining Deployment and Shipment Update During the month of March, Riot deployed 6,912 S19-series miners, and ended the month with approximately 800 miners staged for deployment. Upon deployment of the staged miners, the Company expects to have a total of 94,976 miners deployed with a hash rate capacity of approximately 10.6 EH/s (which excludes 17,040 miners currently offline in Building G). Infrastructure Update In Building D, the main sections of the waterwall frames have been installed. In Building E, Riot’s electrical teams have completed electrical testing and continue to deploy final mining systems. In Buildings F and G, efforts continue to be focused on repairing damaged cooling systems. Estimated Hash Rate Growth Due to the ongoing impact of damage incurred to Buildi...