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Riot Announces November 2023 Production and Operations Updates
Riot Produces 552 Bitcoin in November 2023 While Expanding Hash Rate and Miners Deployed CASTLE ROCK, Colo., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Riot Platforms,
About this update from Riot Platforms, Inc.
[{"type":"text","content":"Riot Produces 552 Bitcoin in November 2023 While Expanding Hash Rate and Miners Deployed\nCASTLE ROCK, Colo., Dec. 06, 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 November 2023. Bitcoin Production and Operations Updates for November 2023 Comparison (%)MetricNovember 2023October 2023November 2022Month/MonthYear/YearBitcoin Produced55245852121%6%Average Bitcoin Produced per Day18.414.817.425%6%Bitcoin Held17,3587,3456,8970%7%Bitcoin Sold54044045023%20%Bitcoin Sales - Net Proceeds$19.6 million$12.5 million$8.1 million57%142%Average Net Price per Bitcoin Sold$36,278$28,408$18,00928%101%Deployed Hash Rate112.4 EH/s11.7 EH/s27.7 EH/s6%61%Deployed Miners1112,944106,674272,4286%56%Power Credits3$0.2 million5$1.0 million5$0.2 million-77%1%Demand Response Credits4$1.6 million5$1.9 million5$0.6 million-18%164% 1. As of month-end.2. Exahash per second (“EH/s”). Excludes 6,270 miners in October 2023 offline due to damage to Building G from the severe winter weather in late December 2022 in Texas.3. Power curtailment credits.4. Credits received from participation in ERCOT demand response programs.5. Estimated. “Riot continued to increase monthly Bitcoin production in November, mining 552 Bitcoin during the month, a 21% increase over October’s production,” said Jason Les, CEO of Riot. “Despite the headwinds of a nearly 9% increase in network difficulty, the ongoing return of hash rate in Building G at our Rockdale Facility and reduced curtailment activity helped drive this strong increase in our production activity.” Estimated Hash Rate Growth In June 2023, Riot entered into a long-term purchase agreement with MicroBT, which included an initial order of 33,280 Bitcoin miners for its Corsicana Facility. Effective December 1, 2023, Riot executed a second order under the MicroBT long-term purchase agreement for an additional 66,650 Bitcoin miners, primarily for its Corsicana Facility. 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 the first quarter of 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 ...