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Riot Blockchain Announces May Production and Operations Updates
Riot shares production of 227 Bitcoin for May 2021 and shipment of 1,000 S19 Pro Antminers Castle Rock, CO, June 10, 2021 (GLOBE NEWSWIRE) -- Riot Blockchain,
About this update from Riot Platforms, Inc.
[{"type":"text","content":"Riot shares production of 227 Bitcoin for May 2021 and shipment of 1,000 S19 Pro Antminers\nCastle Rock, CO, June 10, 2021 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) (\"Riot”, “Riot Blockchain” or the “Company\"), one of the leading Nasdaq listed Bitcoin mining companies in the United States, announces its May production and operational updates, including its unaudited Bitcoin (“BTC“) production for May 2021 and its latest miner delivery status. Production and Operations Updates In May 2021, Riot produced 227 BTC, an increase of approximately 220% over its May 2020 production of 71 BTC.Year to date through May 2021, the Company produced a total of 924 BTC, an increase of approximately 101% over its pre-halving BTC production during the same 2020 period of 460 BTC.As of May 31, 2021, Riot held approximately 2,000 BTC, all of which were produced by its mining operations. The Company plans to continue to provide monthly operational updates and unaudited production results through the end of 2021. These updates are intended to keep shareholders informed of Riot’s mining production as it continues to deploy its expanding miner fleet. Whinstone Acquisition Completed On May 26, 2021, Riot announced it completed its previously announced acquisition of Whinstone U.S. (“Whinstone”). Whinstone’s Bitcoin mining facility in Rockdale, TX is the largest Bitcoin mining facility in North America, as measured by its 300 MW in developed capacity. The Company announced its plans to immediately commence further development of additional capacity at Whinstone in order to rapidly bring the property to its current capacity of 750 MW. This expansion will be driven by Whinstone’s industry leading development team of over 100 employees. Whinstone’s comprehensive energy management strategy delivers best-in-class net energy costs of approximately 2.5 cents per kWh utilizing cutting-edge technology and comprehensive analytics to deliver industry-leading low cost, reliable and responsive power. Recent Miner Deliveries As part of a December 2020 purchase order with Bitmain, 1,000 S19 Pro Antminers (110 TH) were shipped in late May 2021. Installation of the 1,000 miners is expected to be completed in Q2 2021, and upon full deployment of additional miners with Riot’s existing fleet, Riot will have a total of 23,946 Antminers in operation, utilizing...