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NetworkNewsBreaks – Riot Blockchain Inc. (NASDAQ: RIOT) Reports on September 2022 Production, Operations

Company: Riot Blockchain Inc. (RIOT)
Category: News

Riot Blockchain (NASDAQ: RIOT), an industry leader in Bitcoin mining and data center hosting, has released a status update for production and operations for September 2022. Highlights of the report note that Riot produced 355 BTC, an estimated 13% decrease compared to September 2021, and at month-end, Riot held approximately 6,775 BTC — all produced by the company’s self-mining operations. The company also sold 300 BTC during the month, resulting in about $6.1 million net proceeds, and deployed a fleet of 55,728 miners, with a hash rate capacity of 5.6 exahash per second (“EH/s”). As for infrastructure, the company’s engineering and construction teams made significant progress on Riot’s 400 megawatt (“MW”) digital infrastructure expansion project, with progress also noted on work scheduled for Buildings D and G. Looking forward, Riot is forecasting a total self-mining hash rate capacity of 12.5 EH/s, assuming full deployment of approximately 115,450 Antminer ASICs while excluding any potential incremental productivity gains from the company’s utilization of 200 MW of immersion-cooling infrastructure. According to the announcement, Riot’s self-mining fleet will consist of the latest generation S19-series miners. “Riot made remarkable operational progress this September, which was the last month of our participation in ERCOT’s 4CP program for the year,” said Riot CEO Jason Les in the press release. “We are thrilled to announce that Building D, the sixth building at our Rockdale facility, is now online. Our team has expanded Riot’s total deployed fleet by 9,070 miners and increased our hash rate capacity to an all-time high of 5.6 EH/s. Additionally, we have already received nearly 15,000 S19-series miners, including the newest generation S19 XPs. In the coming months, we will remain focused on aggressively increasing our deployed hash rate as we work towards our goal of reaching 12.5 EH/s in the first quarter of 2023.”

To view the full press release, visit https://nnw.fm/b4bxT

About Riot Blockchain Inc.

Riot Blockchain’s vision is to be the world’s leading Bitcoin-driven infrastructure platform. The company’s mission is to positively impact the sectors, networks and communities that it touches. The company believes that through the combination of an innovative spirit and strong community partnership it can achieve best-in-class execution and create successful outcomes. Riot is a Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. Riot Blockchain has Bitcoin mining data center operations in central Texas, Bitcoin mining operations in central Texas, and electrical switchgear engineering and fabrication operations in Denver, Colorado. For more information about the company, visit www.RiotBlockchain.com.

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