Riot Blockchain, Inc. provided Operations Updates. Mining Purchase Orders and Increase in Estimated Hash Rate for 2022: In December 2021, Riot executed additional purchase orders totaling $301 million with Bitmain Technologies Limited (“Bitmain”) for an additional 27,000 of their latest miner model S19XP (140 TH/s), with an anticipated delivery and deployment schedule set for July 2022 through December 2022. As a result of these purchase orders, the Company anticipates having approximately 120,150 Antminers in operation, utilizing approximately 370 MW of energy, by Fourth Quarter 2022.

Also, because of these purchase orders, Riot is increasing its 2022 estimated hash rate capacity by 3.8 EH/s to 12.8 EH/s, representing a 42% increase over the Company's previously announced estimate of 9.0 EH/s. The increase in the estimated hash rate to 12.8 EH/s does not include any potential incremental hash rate production benefits associated with Riot's in-process build-out of 200 MW of immersion-cooled infrastructure at the Whinstone Facility. Miner Deployment and Shipment Updates: In December 2021, the Company received 8,136 S19J-Pros from previous purchase orders, with an additional 2,700 S19J-Pros scheduled to arrive at Riot's Whinstone Facility in January 2022. While global logistics issues are impacting some miner shipment schedules, the effects to the Company to date have not been material, and Riot remains in close communication with Bitmain and logistics providers working to mitigate delays where possible.

Riot expects its hash rate to be approximately 4.1 EH/s when the 8,136 miners received in December 2021 and the 2,700 miners anticipated for delivery in January 2022 are installed at the Whinstone Facility. The Company began initial deployments of miners in its newly constructed immersion-cooled “Building F” in November 2021, and expects to continue deploying received miners into Building F as capacity is completed.