Welcome to our dedicated page for Riot Platforms news (Ticker: RIOT), a resource for investors and traders seeking the latest updates and insights on Riot Platforms stock.
Riot Platforms, Inc. (NASDAQ: RIOT) is a leading vertically integrated Bitcoin mining company that focuses on building, supporting, and operating blockchain technologies. The company has established a robust foothold in the blockchain ecosystem through strategic investments and partnerships, primarily targeting the Bitcoin and Ethereum blockchains.
Riot's core business segments include Bitcoin Mining, Data Center Hosting, and Engineering. The Bitcoin Mining segment, which generates maximum revenue, involves the company mining Bitcoin and earning revenue from this activity. Riot's operations are strategically located, with Bitcoin mining facilities in central Texas and electrical switchgear engineering and fabrication operations in Denver, Colorado.
Riot Platforms has made significant strides in expanding its capabilities and infrastructure. Recently, the company announced the energization of its new Corsicana facility, which marks a significant milestone in its expansion efforts. This facility will enhance Riot's mining capacity and efficiency, positioning the company for further growth in the competitive Bitcoin mining industry.
The company is committed to transparency and regularly updates investors on its financial performance and operational developments. Riot has scheduled its first-quarter 2024 earnings conference call on May 1, 2024, where it will discuss recent results and future plans.
Riot Platforms' mission is to positively impact the sectors, networks, and communities it engages with. The company aims to achieve best-in-class execution through an innovative spirit and strong community partnerships. Riot's vision is to be the world's leading Bitcoin-driven infrastructure platform.
For more information, visit www.riotplatforms.com.
Riot Blockchain produced 425 Bitcoin in December 2021, totaling 3,812 BTC for the year, a 269% increase from 2020. The company executed $301 million in purchase agreements for 27,000 miners, increasing its estimated 2022 hash rate capacity to 12.8 EH/s, a 42% rise. Riot's operations include a deployed fleet of approximately 29,593 miners and the completion of its immersion-cooled Building F. The strategic acquisition of ESS Metron enhances its infrastructure capabilities, while ongoing construction remains on schedule despite global supply chain challenges.
Riot Blockchain (NASDAQ: RIOT) reported significant growth in Bitcoin production and an increase in hash rate capacity. In November 2021, the company produced 466 BTC, a 298% increase from November 2020. Year-to-date production reached 3,387 BTC, up 262% year-over-year. Riot has executed a $33 million purchase order for 3,000 miners, expecting an operational hash rate of 9.0 EH/s by Q4 2022. Despite global logistics challenges, miner shipments continue, with a new 400 MW infrastructure expansion underway.
Riot Blockchain has acquired ESS Metron for approximately $50 million, enhancing its position in the Bitcoin mining industry. The deal includes $25 million in cash and up to 715,413 shares of Riot stock. ESS Metron, a leader in electrical equipment solutions, will help de-risk critical infrastructure procurement, aiding Riot's expansion to a 700 MW capacity. This acquisition is expected to improve internal engineering capabilities and ensure timely miner installations. ESS Metron will continue operating as an independent subsidiary, retaining its workforce and long-term client relationships.
Riot Blockchain (NASDAQ: RIOT) reported record financial results for Q3 2021, achieving a 2,532% increase in total revenue to $64.8 million compared to $2.5 million in Q3 2020. Mining revenue rose 2,099% to $53.6 million, with a mining margin of 76%. Bitcoin production surged 482% to 1,292 BTC in Q3 2021. Despite a net loss of $15.3 million, mainly from stock-based compensation and unrealized losses, adjusted EBITDA increased to $37.6 million. Riot's hash rate is projected to reach 8.6 EH/s by Q4 2022, supported by ongoing expansions and miner deployments.
Riot Blockchain reported production of 464 Bitcoins in October 2021, marking a 433% increase from the previous year. Year-to-date production reached 2,921 BTC, up 257% year-over-year. Riot expects a hash rate capacity of 8.6 EH/s in 2022, following a $54 million purchase of 9,000 miners. The company’s ongoing 400 MW expansion at its Whinstone facility is progressing, with immersion-cooling expected to enhance efficiency by 25-50%. Riot remains focused on maintaining operational updates through 2021.
Riot Blockchain (NASDAQ: RIOT) is advancing its Bitcoin mining capacity with the development of 200 MW of immersion-cooled technology at its Whinstone facility. This initiative marks the first industrial-scale deployment of immersion cooling in the Bitcoin mining industry. The new infrastructure aims to enhance operational efficiencies, potentially increasing the hash rate by 25% to 50%. The immersion-cooled setups will host approximately 46,000 S19 Antminers, with deployment expected by Q4 2021. This development underscores Riot's commitment to reducing operational costs and increasing mining productivity.
Riot Blockchain (NASDAQ: RIOT) reported significant growth in its Bitcoin production for September 2021, producing 406 BTC, a 346% increase from 91 BTC in September 2020. Year-to-date, the company has generated 2,457 BTC, up by 236% compared to last year's 731 BTC. As of September 30, Riot held 3,534 BTC. The company is expanding its miner fleet, expecting to deploy a total of 27,646 Antminers by early November, increasing its hash rate to 2.8 EH/s. Construction at the Whinstone Facility is ongoing with a target hash rate of 7.7 EH/s by Q4 2022.
Riot Blockchain (NASDAQ: RIOT) announces a live investor tour of its Whinstone Facility on October 20, 2021. This facility, acquired in May 2021, boasts a developed capacity of 300 megawatts (MW) and competitive energy costs of approximately 2.5 cents per kWh. Following the acquisition, Riot is expanding the facility by an additional 400 MW, with segments expected to be completed by Q1 2022 and Q2 2022. Investors can meet Riot and Whinstone management to gain insights into their operations.
Riot Blockchain, Inc. (NASDAQ: RIOT) reported a significant increase in Bitcoin production, with 441 BTC mined in August 2021, reflecting a 451% year-over-year growth compared to 80 BTC in August 2020. Year-to-date production reached 2,051 BTC, a 221% increase from 639 BTC in the same period last year. As of August 31, Riot holds 3,128 BTC in self-mined assets. The company is also expanding its Whinstone Facility, aiming for a total hash rate capacity of 7.7 EH/s by Q4 2022.
Riot Blockchain, Inc. (NASDAQ: RIOT) reported a remarkable financial performance for the three months ending June 30, 2021. Mining revenue surged by 1,540% to $31.5 million, up from $1.9 million in 2020, with a profit margin of 70%. The company achieved a net income of $19.3 million or $0.22 per share, a significant turnaround from a $10.6 million loss last year. As of June 30, total assets stood at $221.3 million, including 2,687 BTC. Riot’s acquisition of Whinstone US and ongoing capacity expansion highlight its aggressive growth strategy.
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