Production and Operations Updates
- In
June 2021 , Riot produced 243 BTC, an increase of approximately 406% over itsJune 2020 production of 48 BTC. - Year to date through
June 2021 , the Company produced a total of 1,167 BTC, an increase of approximately 130% over its pre-halving BTC production during the same 2020 period of 508 BTC. - As of
June 30, 2021 , Riot held approximately 2,243 BTC, all of which were produced by its mining operations. - The exodus of Bitcoin mining from
China has resulted in a downward difficulty adjustment and lower global network hash rate. As such, Riot is currently mining more Bitcoin per day than at any time in the Company’s history. While it is broadly expected that many Chinese miners will eventually relocate, the Company estimates that it could be quite some time before the global Bitcoin mining hash rate returns to its previous high of 180 exahash per second (“EH/s”), last observed earlier this year.
Riot plans to continue providing monthly operational updates and unaudited production results through the end of 2021. These updates are intended to keep shareholders informed of Riot’s mining production as it continues to deploy its expanding miner fleet.
Upon completion of the acquisition of Whinstone
The expansion of Bitcoin mining infrastructure at Whinstone provides critical capacity for Riot to deploy its future shipments of Bitcoin mining hardware, in addition to providing an opportunity to expand Whinstone’s hosting business for third-party Bitcoin miners.
Recent Miner Deployments
As previously disclosed, Riot plans to deploy future committed miner shipments to the Whinstone facility to capitalize on Whinstone’s industry-leading low production costs. Necessary infrastructure upgrades are currently underway to support this deployment. The Company recently received 7,500 S19 Pro Antminers (110 TH), which are being currently deployed, with full deployment expected to be completed by the end of this month.
By month’s end, Riot anticipates that it will have a total of 23,946 Antminers in operation, utilizing approximately 76 MW of energy, with an estimated hash rate capacity of 2.4 EH/s.
Hash Rate Growth
By Q4 2022, Riot anticipates a total hash rate capacity of 7.7 EH/s, assuming full deployment of its anticipated fleet of approximately 81,146 Antminers acquired from Bitmain, 95% of which will be the latest generation S19 series model of miners. Upon full deployment, the Company’s total fleet is expected to consume approximately 257 MW of energy, with approximately 206 MW deployed at the Company’s Whinstone facility and approximately 51 MW deployed at
Investor Relations
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Riot is also pleased to announce its participation in the
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Safe Harbor
The information provided in this press release may include forward-looking statements within the meaning of the federal securities laws, including as to the effects of the acquisition by the Company of Whinstone and the future financial performance and operations of the Company and Whinstone. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," “believes,” "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. These forward-looking statements may include, but are not limited to, statements about the benefits of the acquisition of Whinstone, including financial and operating results, and the Company’s plans, objectives, expectations and intentions. Among the risks and uncertainties that could cause actual results to differ from those expressed in forward-looking statements are: (1) the integration of the businesses of the Company and Whinstone may not be successful, or such integration may take longer or be more difficult, time-consuming or costly to accomplish than anticipated; and (2) failure to otherwise realize anticipated efficiencies and strategic and financial benefits from the acquisition of Whinstone. Detailed information regarding other factors that may cause actual results to differ materially from those expressed or implied by statements in this press release may be found in the Company's filings with the
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6.10.21
Investor Contact -Source:Phil McPherson Riot Blockchain, Inc. 303-794-2000 ext. 110 IR@riotblockchain.com PR ContactRiot Blockchain, Inc. PR@riotblockchain.com
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