Riot Platforms Reports 26% Increase in Bitcoin Production

Riot Platforms, Inc. (NASDAQ: RIOT), an industry leader in Bitcoin mining and data center hosting, announced production and operations updates for April 2023. The company produced 639 Bitcoin in April, a 26% increase compared to April 2022’s 508 Bitcoin. As of April 30, 2023, Riot held approximately 7,112 Bitcoin, all mined through the company’s self-mining operations. Riot also sold 600 Bitcoin, generating net proceeds of approximately $17.6 million.

By the end of April, Riot had deployed a fleet of 94,176 miners with a hash rate capacity of 10.5 exahash per second (EH/s). This number excludes 17,040 miners currently offline due to damage from severe winter weather in late December in Texas. An additional 800 miners are staged for deployment, which, once operational, will bring the company’s total deployed miners to 94,976 and increase the hash rate capacity to approximately 10.6 EH/s.

Riot’s engineering teams have been making significant progress in the company’s ongoing 400-megawatt (MW) digital infrastructure expansion project at the Rockdale Facility. Cooling improvements have been made in Buildings D and E, while repairs to the damaged immersion building, Building G, are on track to be completed in the second half of 2023. The company now anticipates achieving a total self-mining hash rate capacity of 12.5 EH/s in the second half of 2023.

In addition to the Rockdale Facility, Riot is also developing a new Corsicana Facility. Upon completion, this facility will continue the company’s track record of building and operating large-scale Bitcoin mining facilities.