Business
Riot Blockchain Announces October Production and Operations Updates
Riot produces 464 Bitcoins in October 2021 and announces an increase in targeted hash rate for 2022 Castle Rock, CO, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Riot
About this update from Riot Platforms, Inc.
[{"type":"text","content":"Riot produces 464 Bitcoins in October 2021 and announces an increase in targeted hash rate for 2022\nCastle Rock, CO, Nov. 03, 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 October 2021, including an 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 facility (“Whinstone”). Production Updates In October 2021, Riot produced 464 BTC, an increase of approximately 433% over its October 2020 production of 87 BTC.Year to date through October 2021, the Company produced a total of 2,921 BTC, an increase of approximately 257% over its BTC production during the same 2020 period of 818 BTC.As of October 31, 2021, Riot held approximately 3,995 BTC, all produced by the Company’s self-mining operations.Riot currently has a deployed fleet of approximately 27,270 miners, with a hash rate capacity of 2.8 exahash per second (“EH/s”). Riot intends to continue providing monthly operational updates and unaudited production results through the end of 2021. 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 completed a $54 million purchase order with Bitmain Technologies Limited (“Bitmain”) for 9,000 S19j Pro (100 TH/s) miners, with an anticipated delivery and deployment schedule set for May 2022 through October 2022. As a result of this purchase order, the Company anticipates that it will have approximately 90,150 Antminers in operation, utilizing approximately 284 MW of energy, by Q4 2022. Also as a result of this purchase order, Riot has increased its 2022 estimated hash rate capacity by 11.7% to 8.6 EH/s, representing an increase of approximately 0.9 EH/s over the Company’s previously announced estimate of 7.7 EH/s. The increase in the estimated hash rate to 8.6 EH/s does not include any po...