Riot Announces July 2023 Production and Operations Updates

Riot Produces 410 Bitcoin While Expanding Execution of Power Strategy

CASTLE ROCK, Colo., Aug. 03, 2023 (GLOBE NEWSWIRE) -- Riot Platforms, Inc. (NASDAQ: RIOT) (“Riot” or “the Company”), an industry leader in Bitcoin (“BTC”) mining and data center hosting, announces unaudited production and operations updates for July 2023.

Bitcoin Production and Operations Updates for July 2023

					Comparison (%)
Metric	July 2023	June 2023	July 2022		Month/Month	Year/Year
Bitcoin Produced	410	460	318		-11%	29%
Average Bitcoin Produced per Day	13.2	15.3	10.2		-14%	29%
Bitcoin Held1	7,275	7,265	6,696		0%	9%
Bitcoin Sold	400	400	275		0%	45%
Bitcoin Sales - Net Proceeds	$12.1 million	$10.6 million	$5.6 million		15%	117%
Average Net Price per Bitcoin Sold	$30,293	$26,456	$20,262		15%	50%
Deployed Hash Rate1	10.7 EH/s2	10.7 EH/s2	4.2 EH/s		0%	157%
Deployed Miners1	95,9042	95,9042	40,311		0%	138%
Power Credits3,5	$6.4 million6	$8.4 million	$9.4 million		-24%	-32%
Demand Response Credits4,5	$1.8 million6	$1.7 million	$0.4 million		5%	376%

1. As of end of month.
2. Exahash per second (“EH/s”). Excludes 17,040 miners that are offline as a result of damage to Building G from the severe winter weather in late December 2022 in Texas.
3. Power curtailment credits received from the Company’s ability, under its long-term power contracts, to sell power back to the ERCOT grid at market-driven spot prices.
4. Credits received from participation in ERCOT demand response programs.
5. The Company discloses this figure in its monthly updates if it exceeds $1 million for the current month.
6. Power Credits and Demand Response Credits for July 2023 are estimates.

“Riot had another strong month in July amidst some of the most challenging operating months of the year, as temperatures in Texas have soared,” said Jason Les, CEO of Riot. “Riot’s self-mining operations mined 410 Bitcoin in the month of July, while our power strategy generated $6.4 million in power credits and $1.8 million in demand response credits. Our team was able to navigate rapidly changing power market and Bitcoin mining conditions in order to maximize value on a real time basis through our power strategy.