Riot Blockchain Announces November Production and Operations Updates

About this update from Riot Platforms, Inc.

[{"type":"text","content":"Riot produces 466 Bitcoin in November 2021 and announces a further increase in 2022 targeted hash rate\nCastle Rock, CO, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot,” “Riot Blockchain” or “the Company”), an industry leader in Bitcoin (“BTC”) mining and hosting, announces monthly BTC production and operations updates for November 2021, including a further increase in estimated self-mining hash rate capacity for 2022, updates to the status of miner shipments and deployment, and updates on the 400 megawatts (“MW”) infrastructure expansion at the Company’s Whinstone US, Inc., (“Whinstone”) facility in Rockdale, Texas (the “Whinstone Facility”). Production Updates In November 2021, Riot produced 466 BTC, an increase of approximately 298% over its November 2020 production of 117 BTC.Year to date through November 2021, the Company produced 3,387 BTC, an increase of approximately 262% over its BTC production during the same 2020 period of 935 BTC.As of November 30, 2021, Riot held approximately 4,464 BTC, all produced by the Company’s self-mining operations.Riot currently has a deployed fleet of approximately 29,095 miners, with a hash rate capacity of 3.0 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 shareholders informed of the Company’s progress with regards to the execution of the previously announced growth in Riot’s hash rate and to keep investors apprised of the Company’s development of Bitcoin mining infrastructure critical to de-risking future growth. Mining Purchase Order and Increase in Estimated Hash Rate for 2022 Riot recently executed a $33 million purchase order with Bitmain Technologies Limited (“Bitmain”) for 3,000 of their latest miner model S19XP (140 TH/s) with an anticipated delivery and deployment schedule set for July 2022 through December 2022. As a result of this purchase order, the Company anticipates having approximately 93,150 Antminers in operation, utilizing approximately 293 MW of energy, by Q4 2022. Also, as a result of this purchase order, Riot has increased its 2022 estimated hash rate capacity to 9.0 EH/s, representing an increase of approximately 0.4 EH/s over the Company’s previously announced estim...

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