Riot Platforms, Inc. , an industry leader in Bitcoin (“BTC”) mining and data centre hosting, announces unaudited production and operations updates for February 2023.
Bitcoin Production and Operations Updates for February 2023
- Riot produced 675 BTC, an increase of approximately 55% as compared to February 2022 production of 436 BTC.
- Riot held approximately 7,058 BTC as of February 28, 2023, all produced by the Company’s self-mining operations.
- Riot sold 600 BTC, generating net proceeds of approximately $14.2 million.
- Riot had a deployed fleet of 87,264 miners, with a hash rate capacity of 9.8 exahash per second (“EH/s”), as of February 28, 2023, which excludes 17,040 miners that are offline as a result of damage to Building G from the severe winter weather in late December in Texas.
“February was another month of operational excellence for Riot, during which we produced 675 Bitcoin in the shortest month of the year, and despite one of the largest increases in mining difficulty in recent history,” said Jason Les, CEO of Riot.
Mining Deployment and Shipment Update
During the month of February, Riot deployed 4,608 S19-series miners, and ended the month with approximately 2,304 miners staged for deployment. Upon deployment of the staged miners, the Company expects to have a total of 89,568 miners deployed with a hash rate capacity of approximately 10.1 EH/s (which excludes 17,040 mines currently offline in Building G).
Infrastructure Update
The Company’s construction team continues to install wall louvers and water frames in Building E, while electrical teams continue to run electrical testing and deploy miners, with full completion of the building expected by early Q2 2023.
In Buildings F and G, efforts are focused on restoring the damage done to the dry-cooling systems by the winter storm in Texas in late December. Building F was brought back online earlier this year and is expected to return to full operational capacity in early Q2 2023, while in Building G, we are implementing repairs and replacing several dry coolers, which we anticipate will enable us to restore full operational capacity in the second half of 2023.
Estimated Hash Rate Growth
Due to the ongoing impact of damage incurred to Buildings F and G during the severe winter storms in Texas in late December, Riot now anticipates achieving a total self-mining hash rate capacity of 12.5 EH/s in the second half of 2023.
Conference Schedule
Riot will be presenting at the following upcoming conferences:
- Empower Conference held in Houston, TX on March 8th – 9th.
- 34th Annual Roth Conference held in Dana Point, CA on March 13th – 15th.
- DC Blockchain Summit 2023 held in Washington D.C. on March 21st.
About Riot Platforms, Inc.
Riot’s vision is to be the world’s leading Bitcoin-driven infrastructure platform.
Riot is a Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. The Company has Bitcoin mining data centre operations in central Texas, Bitcoin mining operations in central Texas, and electrical switchgear engineering and fabrication operations in Denver, Colorado.
For more information, visit www.riotplatforms.com.
submitted by /u/Smile0069
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