Production Updates
- In
October 2021 , Riot produced 464 BTC, an increase of approximately 433% over itsOctober 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.
Riot recently completed a
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 potential benefits from Riot’s previously announced build-out of 200 MW of immersion-cooled infrastructure.
Miner Deployment and Shipment Updates
Shipments of 11,500 S19J Pro Antminers under previous purchase orders are expected to be shipped to Riot’s Whinstone facility in
Operations Update
In
When ASICs are immersion-cooled, ASICs operate in a more stable environment, allowing the equipment to run at higher productivity rates. Based on industry data and the Company’s own preliminary immersion-cooling test results, an estimated 25% increase in hash rate is expected, with an estimated potential to increase ASIC performance by as much as 50%. Riot expects to have more robust test results from the Company’s pilot by the end of Q1 2022. If successful, Riot will leverage its infrastructure development capabilities to increase its Bitcoin mining hash rate without relying solely on purchasing additional mining equipment, resulting in increased operating efficiencies, and thus, capital efficiencies.
Infrastructure Update
In
2022 Estimated
By Q4 2022, Riot anticipates a total self-mining hash rate capacity of 8.6 EH/s, not including any expected incremental productivity gains from the Company’s utilization of 200 MW of immersion-cooling infrastructure and assuming full deployment of approximately 90,150 Antminer ASICs. Approximately 95% of Riot’s self-mining fleet will consist of the latest generation S19 series miner model. Upon full deployment, the Company’s total self-mining fleet is expected to consume approximately 284 MW of energy. In addition to the Company’s self-mining operations, Riot’s Whinstone facility hosts approximately 200 MW of institutional Bitcoin mining clients.
Conference Schedule
Riot will be participating in the
About
Safe Harbor
Statements in this press release that are not historical facts are forward-looking statements that reflect management’s current expectations, assumptions, and estimates of future performance and economic conditions. Such statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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 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 due to 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 include, but are not limited to: unaudited estimates of BTC production; our future hash rate growth (EH/s); our expected schedule of new miner deliveries; our ability to successfully deploy new miners; MW capacity under development; 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; failure to otherwise realize anticipated efficiencies and strategic and financial benefits from the acquisition of Whinstone; and the impact of COVID-19 on us, our customers, or on our suppliers in connection with our estimated timelines. 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
Attachments
- Riot-Whinstone Facility
October 2021 -
Riot Hash Rate Growth
October 2021
Trystine PayferSource:Riot Blockchain, Inc. 303-794-2000 ext. 118 PR@riotblockchain.comPhil McPherson Riot Blockchain, Inc. 303-794-2000 ext. 110 IR@riotblockchain.com
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