Riot Blockchain Announces November Production And

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Citadel Rock, CO, Dec. 02, 2021 (GLOBE NEWSWIRE) — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot,” “Riot Blockchain” or “the Firm”), an trade chief in Bitcoin (“BTC”) mining and internet hosting, broadcasts month-to-month BTC manufacturing and operations updates for November 2021, together with an extra enhance in estimated self-mining hash price capability for 2022, updates to the standing of miner shipments and deployment, and updates on the 400 megawatts (“MW”) infrastructure growth on the Firm’s Whinstone US, Inc., (“Whinstone”) facility in Rockdale, Texas (the “Whinstone Facility”).

Production Updates

In November 2021, Riot produced 466 BTC, a rise of roughly 298% over its November 2020 manufacturing of 117 BTC.
12 months to this point by way of November 2021, the Firm produced 3,387 BTC, a rise of roughly 262% over its BTC manufacturing throughout the identical 2020 interval of 935 BTC.
As of November 30, 2021, Riot held roughly 4,464 BTC, all produced by the Firm’s self-mining operations.
Riot presently has a deployed fleet of roughly 29,095 miners, with a hash price capability of three.0 exahash per second (“EH/s”).

Riot intends to proceed offering month-to-month operational updates and unaudited manufacturing outcomes for the foreseeable future or till in any other case disclosed. These updates are meant to maintain shareholders knowledgeable of the Firm’s progress as regards to the execution of the beforehand introduced progress in Riot’s hash price and to maintain traders apprised of the Firm’s improvement of Bitcoin mining infrastructure important to de-risking future progress.

Mining Buy Order and Improve in Estimated Hash Charge for 2022

Riot lately executed a $33 million buy order with Bitmain Applied sciences Restricted (“Bitmain”) for 3,000 of their newest miner mannequin S19XP (140 TH/s) with an anticipated supply and deployment schedule set for July 2022 by way of December 2022. Because of this buy order, the Firm anticipates having roughly 93,150 Antminers in operation, using roughly 293 MW of power, by This autumn 2022.

Additionally, on account of this buy order, Riot has elevated its 2022 estimated hash price capability to 9.0 EH/s, representing a rise of roughly 0.4 EH/s over the Firm’s beforehand introduced estimate of 8.6 EH/s. The rise within the estimated hash price to 9.0 EH/s doesn’t embody any potential incremental manufacturing advantages from Riot’s beforehand introduced build-out of 200 MW of immersion-cooled infrastructure on the Whinstone Facility.

Miner Deployment and Cargo Updates

In November, shipments of 5,886 S19Js beforehand bought miners have been acquired, and a further 4,284 S19Js are scheduled to reach at Riot’s Whinstone Facility in December 2021. Whereas international logistics points are impacting some miner cargo schedules, the consequences to the Firm to this point haven’t been materials, and Riot stays in shut communication with Bitmain and logistics suppliers working to mitigate delays the place potential.

The Firm started deployments of miners in its newly constructed immersion-cooled Constructing F in November 2021 and expects to deploy roughly 7,600 further miners in Constructing F by the tip of December 2021. By the tip of December 2021, Riot anticipates that it’ll have a complete of roughly 36,700 Antminers in operation, using roughly 117 MW of power, with an estimated hash price capability of three.7 EH/s.

Infrastructure Replace

In November 2021, Riot’s 400 MW growth on the Whinstone Facility hit a number of progress milestones whereas navigating the challenges with the present state of the worldwide provide chain. Progress through the month included the completion of the substation growth to 700 MW, profitable set up of the substation busbar, and 400 MW of high-voltage transformers. Whinstone additionally accomplished development of Constructing F, Riot’s first self-mining constructing devoted to immersion-cooled Bitcoin mining, whereas additionally advancing on its second immersion-cooled devoted constructing, Constructing G.

2022 Estimated Hash Charge

By This autumn 2022, Riot anticipates a complete self-mining hash price capability of 9.0 EH/s, assuming full deployment of roughly 93,150 Antminer ASICs however excluding any potential anticipated incremental productiveness beneficial properties from the Firm’s utilization of 200 MW of immersion-cooling infrastructure. Roughly 96% of Riot’s self-mining fleet will include the newest era S19 collection miner mannequin. Upon full deployment of all presently contracted for miners, the Firm’s complete self-mining fleet is predicted to eat roughly 293 MW of power. Along with the Firm’s self-mining operations, Riot’s Whinstone Facility hosts roughly 200 MW of institutional Bitcoin mining purchasers.

Convention Schedule

Riot will take part within the B. Riley Securities Crypto Convention in New York, New York, on Wednesday, December 8, 2021.

Human Assets

As Riot continues to scale, the Firm is proud to announce personnel adjustments, together with the hiring of Director of Human Assets, Emma Norris, Lead Software program Engineer, Abrahan Chavez, and Director of SOX Compliance, Kevin Haugen.

About Riot Blockchain, Inc.

Riot Blockchain (NASDAQ: RIOT) focuses on mining Bitcoin, and by way of Whinstone, its subsidiary, internet hosting Bitcoin mining gear for institutional purchasers. The Firm is increasing and upgrading its mining operations by way of industrial-scale infrastructure improvement and latest-generation miner procurement. Riot’s headquarter is situated in Citadel Rock, Colorado, and the Whinstone Facility operates out of Rockdale, Texas. The Firm additionally has mining gear working in upstate New York underneath a co-location internet hosting settlement with Coinmint, LLC. For extra data, go to www.RiotBlockchain.com.

Protected Harbor

Statements on this press launch that aren’t historic information are forward-looking statements that replicate administration’s present expectations, assumptions, and estimates of future efficiency and financial circumstances. Such statements are made in reliance on the protected harbor provisions of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Trade Act of 1934. As a result of such statements are topic to dangers and uncertainties, precise outcomes might differ materially from these expressed or implied by such forward-looking statements. Phrases resembling “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hope,” and comparable expressions are meant to establish forward-looking statements. Ahead-looking statements might by no means materialize or might show to be incorrect. Precise outcomes and the timing of occasions may differ materially from these anticipated in such forward-looking statements as a consequence of numerous dangers and uncertainties. These forward-looking statements might embody, however aren’t restricted to, statements about the advantages of acquisitions, together with monetary and working outcomes, and the Firm’s plans, aims, expectations, and intentions. Among the many dangers and uncertainties that might trigger precise outcomes to vary from these expressed in forward-looking statements embody, however aren’t restricted to: unaudited estimates of BTC manufacturing; our future hash price progress (EH/s); our anticipated schedule of recent miner deliveries; our means to efficiently deploy new miners; MW capability underneath improvement; the mixing of acquired companies will not be profitable, or such integration might take longer or be harder, time-consuming or pricey to perform than anticipated; failure to in any other case notice anticipated efficiencies and strategic and monetary advantages from our acquisitions; and the affect of COVID-19 on us, our prospects, or on our suppliers in reference to our estimated timelines. Detailed data relating to different elements that will trigger precise outcomes to vary materially from these expressed or implied by statements on this press launch could also be discovered within the Firm’s filings with the U.S. Securities and Trade Fee (the “SEC”), together with within the sections entitled “Threat Components” and “Cautionary Notice Concerning Ahead-Wanting Statements” of the Firm’s Annual Report on Type 10-Okay for the fiscal yr ended December 31, 2020, and our different filings with the SEC, together with, however not restricted to the extra danger elements set forth within the Firm’s Present Report on Type 8-Okay filed with the SEC on Might 26, 2021, copies of which can be obtained from the SEC’s web site at www.sec.gov. All forward-looking statements included on this press launch are made solely as of the date of this press launch, and the Firm disclaims any intention or obligation to replace or revise any forward-looking statements to replicate occasions or circumstances that subsequently happen, or of which the Firm hereafter turns into conscious, besides as required by regulation. Individuals studying this press launch are cautioned to not place undue reliance on forward-looking statements.