Business
Riot Blockchain Announces December Production and Operations Updates
Riot produces 425 Bitcoin in December 2021 and 3,812 Bitcoin in 2021, Executes Multiple Miner Purchase Agreements and Increases Self-Mining Hash Rate Capacity
About this update from Riot Platforms, Inc.
[{"type":"text","content":"Riot produces 425 Bitcoin in December 2021 and 3,812 Bitcoin in 2021, Executes Multiple Miner Purchase Agreements and Increases Self-Mining Hash Rate Capacity to 12.8 EH/s for 2022\nCastle Rock, CO, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot,” “Riot Blockchain” or “the Company”), an industry leader in Bitcoin (“BTC”) mining and hosting, announces production and operations update for December 2021, including a further increase in estimated self-mining hash rate capacity for 2022, updates to the status of miner shipments and deployment, updates on the 400 megawatt (“MW”) infrastructure expansion at the Company’s Whinstone US, Inc., (“Whinstone”) facility in Rockdale, Texas (the “Whinstone Facility”) and other corporate highlights. “Riot is purpose-built to excel in Bitcoin mining,” said Jason Les, CEO of Riot Blockchain. “As a result of the Company’s vertically-integrated strategy, Riot enters 2022 with a uniquely de-risked expansion plan, as the major components to succeed at an industrial-scale have been internalized. In addition to reducing execution risk, Riot’s vertically-integrated strategy highlights the significant operational and financial benefits of its investments in engineering and technology, which is further demonstrated by the deployment of immersion-cooling technology at a significant industrial scale. In 2022, Riot plans to continue focusing on operational execution, which management believes will continue to highlight the Company’s vertically-integrated business strategy and its position as a low-cost producer of Bitcoin.” Production Updates In December 2021, Riot produced 425 BTC, an increase of approximately 334%, as compared to the December 2020 production of 98 BTC.In Q4 2021, Riot produced 1,355 BTC, increasing approximately 349%, as compared to Q4 2020 production of 302 BTC.In 2021, Riot produced 3,812 BTC, increasing approximately 269%, as compared to 2020 production of 1,033.As of December 31, 2021, Riot held approximately 4,889 BTC, all produced by the Company’s self-mining operations.Riot currently has a deployed fleet of approximately 29,593 miners, with a hash rate capacity of 3.1 exahash per second (“EH/s”). Riot intends to continue providing monthly operational updates and unaudited production results for the foreseeable future or until otherwise disclosed. These ...