Business
Riot Blockchain Announces January Production and Operations Updates
Riot produces 458 Bitcoin in January 2022, and Curtails Energy Usage in Response to February Texas Winter Storm Castle Rock, CO, Feb. 04, 2022 (GLOBE
About this update from Riot Platforms, Inc.
[{"type":"text","content":"Riot produces 458 Bitcoin in January 2022, and Curtails Energy Usage in Response to February Texas Winter Storm\nCastle Rock, CO, Feb. 04, 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 January 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 an update on remaining flexible for the ERCOT power grid stabilization. “Riot is well-positioned for continued growth and production in 2022,” said Jason Les, CEO of Riot Blockchain. “We are pleased to share that miner deployments in one of our immersion-cooled buildings are now fully underway. We have refined our process for driving immersion-based miner installations and are now initiating tests on productivity enhancements supported by this cooling technology. We expect to see increases in our hash rate capacity as we continue to execute on deployments in the newly completed Building F and the soon to be completed, Building G. Additionally, we have been closely monitoring the current weather conditions in Texas and the potential impact they may have on the supply and demand of energy in the ERCOT grid. As the largest Bitcoin miner by developed capacity in Texas, Riot is currently curtailing its Bitcoin mining operations at the Whinstone Facility. Riot employs nearly 200 full-time team members at the Whinstone Facility, in addition to another 400 contractors, in Rockdale, TX, and we deeply value our relationship with the surrounding community and broader state of Texas.” Production Updates In January 2022, Riot produced 458 BTC, an increase of approximately 252%, as compared to the January 2021 production of 130 BTC.As of January 31, 2022, Riot held approximately 5,347 BTC, all produced by the Company’s self-mining operations.Riot currently has a deployed fleet of approximately 32,552 miners, with a hash rate capacity of 3.4 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 updates are intended to keep shareh...