Riot Announces August 2024 Production and Operations Updates
Riot Platforms, Inc. (NASDAQ: RIOT) announced its August 2024 production and operations updates. The company produced 322 Bitcoin in August, a 13% decrease from July 2024 and a 3% decrease year-over-year. Riot's total deployed hash rate reached 23.5 EH/s, a 1% increase from July and a 128% increase year-over-year. The company's Bitcoin holdings exceeded 10,000, reaching 10,019, a 3% increase from July and a 37% increase year-over-year.
Riot's power strategy led to an all-in power cost of 2.0c/kWh at its Rockdale Facility and 3.9c/kWh at its Corsicana Facility. The company generated $6.4 million in total power credits, a 90% increase from July. Riot continues to develop its Corsicana Facility, with Building B1 expected to be fully operational in September, contributing to the company's target of 28 EH/s hash rate by Q3 and 36 EH/s by year-end.
Riot Platforms, Inc. (NASDAQ: RIOT) ha annunciato gli aggiornamenti sulla produzione e le operazioni di agosto 2024. L'azienda ha prodotto 322 Bitcoin ad agosto, un calo del 13% rispetto a luglio 2024 e una diminuzione del 3% rispetto all'anno precedente. Il hash rate totale distribuito da Riot ha raggiunto i 23,5 EH/s, con un aumento dell'1% rispetto a luglio e un incremento del 128% su base annua. Le possessioni di Bitcoin dell'azienda hanno superato i 10.000, raggiungendo i 10.019, con un aumento del 3% da luglio e una crescita del 37% rispetto all'anno precedente.
La strategia energetica di Riot ha portato a un costo energetico totale di 2,0c/kWh presso il suo impianto di Rockdale e di 3,9c/kWh presso il suo impianto di Corsicana. L'azienda ha generato $6,4 milioni in crediti energetici totali, con un aumento del 90% rispetto a luglio. Riot continua a sviluppare il suo impianto di Corsicana, con l'edificio B1 previsto per essere completamente operativo a settembre, contribuendo all'obiettivo dell'azienda di 28 EH/s di hash rate entro il Q3 e 36 EH/s entro la fine dell'anno.
Riot Platforms, Inc. (NASDAQ: RIOT) anunció sus actualizaciones de producción y operaciones de agosto de 2024. La empresa produjo 322 Bitcoin en agosto, lo que representa una disminución del 13% respecto a julio de 2024 y una disminución del 3% en comparación interanual. La tasa de hash total desplegada por Riot alcanzó los 23,5 EH/s, un aumento del 1% desde julio y un incremento del 128% en comparación interanual. Las reservas de Bitcoin de la compañía superaron los 10,000, alcanzando los 10,019, un incremento del 3% desde julio y un aumento del 37% en comparación interanual.
La estrategia energética de Riot dio como resultado un costo de energía total de 2,0c/kWh en su instalación de Rockdale y de 3,9c/kWh en su instalación de Corsicana. La empresa generó $6,4 millones en créditos energéticos totales, un aumento del 90% desde julio. Riot continúa desarrollando su instalación de Corsicana, con el edificio B1 previsto para estar completamente operativo en septiembre, contribuyendo al objetivo de la empresa de 28 EH/s de tasa de hash para el Q3 y 36 EH/s para fin de año.
라이엇 플랫폼스, Inc. (NASDAQ: RIOT)는 2024년 8월 생산 및 운영 업데이트를 발표했습니다. 이 회사는 8월에 322 비트코인(BTC)을 생산했으며, 이는 2024년 7월 대비 13% 감소하고 연간 3% 감소한 수치입니다. 라이엇의 총 해시레이트는 23.5 EH/s에 도달했으며, 이는 7월 대비 1% 증가하고 연간 128% 증가한 수치입니다. 회사의 비트코인 보유량은 10,000개를 초과하여 10,019개에 도달했으며, 이는 7월 대비 3% 증가하고 연간 37% 증가한 것입니다.
라이엇의 전력 전략은 Rockdale 시설에서 전체 전력 비용이 2.0c/kWh이고 Corsicana 시설에서 3.9c/kWh가 되었습니다. 이 회사는 640만 달러의 총 전력 크레딧을 생성했으며, 이는 7월 대비 90% 증가한 수치입니다. 라이엇은 Corsicana 시설을 계속 개발하고 있으며, B1 건물이 9월에 완전 가동될 예정이며, 회사의 목표인 Q3까지 28 EH/s 해시레이트와 연말까지 36 EH/s 달성에 기여하고 있습니다.
Riot Platforms, Inc. (NASDAQ: RIOT) a annoncé ses mises à jour de production et d'exploitation pour août 2024. La société a produit 322 Bitcoin en août, ce qui représente une baisse de 13 % par rapport à juillet 2024 et une diminution de 3 % par rapport à l'année précédente. Le taux de hachage total déployé par Riot a atteint 23,5 EH/s, soit une augmentation de 1 % par rapport à juillet et une augmentation de 128 % par rapport à l'année précédente. Les avoirs en Bitcoin de l'entreprise ont dépassé 10 000, atteignant 10 019, soit une augmentation de 3 % par rapport à juillet et une hausse de 37 % par rapport à l'année précédente.
La stratégie énergétique de Riot a conduit à un coût énergétique total de 2,0c/kWh pour son installation de Rockdale et de 3,9c/kWh pour son installation de Corsicana. L'entreprise a généré 6,4 millions de dollars en crédits énergétiques totaux, soit une augmentation de 90 % par rapport à juillet. Riot continue de développer son installation de Corsicana, l'immeuble B1 devant être entièrement opérationnel en septembre, contribuant à l'objectif de l'entreprise de 28 EH/s de taux de hachage d'ici le T3 et 36 EH/s d'ici la fin de l'année.
Riot Platforms, Inc. (NASDAQ: RIOT) hat seine Produktions- und Betriebsupdates für August 2024 bekannt gegeben. Das Unternehmen hat im August 322 Bitcoin produziert, was einem Rückgang von 13% im Vergleich zu Juli 2024 und einem Rückgang von 3% im Jahresvergleich entspricht. Das gesamt einsatzfähige Hash-Rate von Riot erreichte 23,5 EH/s, was einer Steigerung von 1% im Vergleich zu Juli und einer Steigerung von 128% im Jahresvergleich entspricht. Die Bitcoin-Bestände des Unternehmens überstiegen 10.000 und erreichten 10.019, was einem Anstieg von 3% seit Juli und einem Anstieg von 37% im Jahresvergleich entspricht.
Die Energiepolitik von Riot führte zu einem gesamt Kosten für Strom von 2,0c/kWh in der Rockdale-Anlage und 3,9c/kWh in der Corsicana-Anlage. Das Unternehmen generierte 6,4 Millionen Dollar an Gesamtkredit für Energie, was einem Anstieg von 90% im Vergleich zu Juli entspricht. Riot entwickelt weiterhin seine Corsicana-Anlage, wobei das Gebäude B1 voraussichtlich im September vollständig in Betrieb genommen wird, was zum Ziel des Unternehmens von 28 EH/s Hash-Rate bis Q3 und 36 EH/s bis zum Jahresende beiträgt.
- Total deployed hash rate increased to 23.5 EH/s, up 128% year-over-year
- Bitcoin holdings exceeded 10,000, reaching 10,019, up 37% year-over-year
- Generated $6.4 million in total power credits, a 90% increase from July
- All-in power cost at Rockdale Facility decreased to 2.0c/kWh from 3.0c/kWh in July
- On track to achieve Q3 hash rate target of 28 EH/s and year-end target of 36 EH/s
- Bitcoin production decreased to 322, down 13% from July and 3% year-over-year
- Average operating hash rate decreased to 14.5 EH/s, down 7% from July
- Power credits decreased by 78% year-over-year
- High temperatures and unscheduled maintenance impacted uptime at Rockdale Facility
Insights
Riot's August production update reveals mixed results. The company produced 322 Bitcoin, down
The company's power strategy remains a key focus, with
Riot's expansion plans are progressing, with the Corsicana Facility's third 100 MW building nearing completion. The company remains on track to reach its Q3 hash rate target of 28 EH/s and year-end target of 36 EH/s, which could significantly boost future production capacity.
Riot's power strategy demonstrates a sophisticated approach to energy management in the volatile Texas market. By participating in ERCOT's Four Coincident Peak Program, Riot not only reduces its own costs but also contributes to grid stability during peak demand periods. This flexibility is a significant advantage in the mining industry.
The company's ability to achieve an all-in power cost of
However, the impact of high temperatures on operations, particularly at the Corsicana Facility, highlights the ongoing challenges of large-scale mining in Texas. The completion of cooling systems in Buildings A1 and A2 will be important for maintaining consistent operations year-round.
Riot's infrastructure expansion is progressing well, with the third 100 MW building at Corsicana nearing completion. This rapid development is impressive and should significantly boost Riot's hash rate capacity. The planned increase to 28 EH/s by Q3 and 36 EH/s by year-end represents substantial growth, potentially positioning Riot as one of the largest Bitcoin miners globally.
The company's focus on building cooling systems is crucial, especially given the challenges faced due to high temperatures in August. Improving temperature management will be key to maximizing uptime and efficiency. The acquisition and integration of Kentucky facilities also diversifies Riot's geographic footprint, potentially reducing weather-related risks.
However, investors should monitor the execution of these expansion plans closely, as rapid growth can sometimes lead to operational challenges or unexpected delays.
Riot Produces 322 Bitcoin in August 2024 and Exceeds 10,000 Bitcoin Held
Bitcoin Production and Operations Updates for August 2024
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Comparison (%) | ||||||||
Metric | August 2024 1 | July 2024 1 | August 2023 | Month/Month | Year/Year | |||
Bitcoin Produced | 322 | 370 | 333 | -13 % | -3 % | |||
Average Bitcoin Produced per Day | 10.4 | 11.9 | 10.8 | -13 % | -3 % | |||
Bitcoin Held 2 | 10,019 | 9,704 | 7,309 | 3 % | 37 % | |||
Bitcoin Sold | - | - | 300 | N/A | N/A | |||
Bitcoin Sales - Net Proceeds | - | - | N/A | N/A | ||||
Average Net Price per Bitcoin Sold | N/A | N/A | N/A | N/A | ||||
Deployed Hash Rate - Rockdale 2 | 14.7 EH/s | 14.7 EH/s | 10.3 EH/s 2 | 0 % | 42 % | |||
Deployed Hash Rate - Corsicana 2 | 7.6 EH/s | 7.6 EH/s | - | 0 % | N/A | |||
Deployed Hash Rate - | 1.2 EH/s | 1.0 EH/s | N/A | 20 % | N/A | |||
Deployed Hash Rate - Total 2 | 23.5 EH/s | 23.2 EH/s | 10.3 EH/s | 1 % | 128 % | |||
Avg. Operating Hash Rate - Rockdale 4 | 8.2 EH/s | 9.6 EH/s | 4.5 EH/s | -14 % | 84 % | |||
Avg. Operating Hash Rate - Corsicana 4 | 5.2 EH/s | 5.7 EH/s | - | -9 % | N/A | |||
Avg. Operating Hash Rate - | 1.0 EH/s | 0.9 EH/s 5 | N/A | 16 % | N/A | |||
Avg. Operating Hash Rate - Total 4 | 14.5 EH/s | 15.5 EH/s | 4.5 EH/s | -7 % | 224 % | |||
Power Credits 6 | | 79 % | -76 % | |||||
Demand Response Credits 7 | 261 % | -86 % | ||||||
Total Power Credits | 90 % | -78 % | ||||||
All-in Power Cost - Rockdale 8 | 2.0c/kWh | 3.0c/kWh | (15.8)c/kWh | -17 % | N/M | |||
All-in Power Cost - Corsicana 8 | 3.9c/kWh | 3.9c/kWh | N/A | 1 % | N/A | |||
All-in Power Cost - | 3.7c/kWh | 3.6c/kWh 10 | N/A | 4 % | N/A | |||
All-in Power Cost - Total 8 | 2.6c/kWh | 3.2c/kWh | (15.8)c/kWh | -14 % | N/M | |||
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"August is historically the hottest month of the year in
"In addition to periods of curtailment due to our participation in demand response programs, uptime was impacted during the month by high temperatures in
"We have made significant progress towards completing the development of our third 100 MW building at the Corsicana Facility, Building B1, and the deployment of miners within it, which will be completed and operating at full capacity by the end of September. We have also begun to increase hash rate at our newly acquired
Riot's Power Strategy Overview
Riot's power strategy is based on being a flexible consumer of power. The Company typically consumes power when it is low-cost and abundant, as opposed to residential consumers, who typically increase power usage during peak periods of demand. When demand increases and/or supply decreases, causing prices to rise, the Company can either power down to reduce power costs, or bid competitively to provide the grid operator with visibility into, and control over, Riot's power utilization. This control gives the grid operator the ability to either absorb excess power when supply is high or to curtail Riot's operations in order to reduce demand when beneficial to the grid, and ultimately, to all consumers.
During August, Riot continued its participation in ERCOT's Four Coincident Peak Program ("4CP"). The 4CP program is an opportunity for users of power to curtail usage during periods of highest demand on the grid in each of the four summer months of the year. Riot curtailed operations in August during peak periods of demand within ERCOT and will continue to do so throughout the summer. These periods of curtailment occur whenever total demand on the grid could reach its peak point for each month and does not depend on the current price for power, which fluctuates due to a variety of factors and may be lower or higher than anticipated. As part of Riot's participation in this voluntary program, the Company can achieve substantial savings on future costs, and participation is a key part of the Company's partnership-driven approach with the grid and all consumers of power in ERCOT.
Infrastructure Update
Riot is currently developing Phase 1 (400 MW) of the Company's Corsicana Facility, which, once fully developed, is expected to total 1 gigawatt (1,000 MW) in developed mining capacity.
Riot continued development of the third 100 MW building, Building B1, and began deploying miners within the building. Building B1 will be fully operational in the month of September. Development has continued on the final 100 MW building in Phase 1, Building B2, and miner deployment will begin during the month of September.
Estimated Hash Rate Growth
Investor Events
- H.C. Wainwright 26th Annual Global Investment Conference September 9-11th in
New York City .
Human Resources Update
Riot is currently recruiting for positions across the Company. Join our team in building, expanding, and securing the Bitcoin network.
Open positions are available at: https://www.riotplatforms.com/careers.
About Riot Platforms, Inc.
Riot's (NASDAQ: RIOT) vision is to be the world's leading Bitcoin-driven infrastructure platform. Our mission is to positively impact the sectors, networks, and communities that we touch. We believe that the combination of an innovative spirit and strong community partnership allows the Company to achieve best-in-class execution and create successful outcomes.
Riot is a Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. The Company has Bitcoin mining operations in central
For more information, visit www.riotplatforms.com.
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 rely 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. These forward-looking statements may include, but are not limited to, statements about the benefits of acquisitions, 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 Bitcoin production; our future hash rate growth (EH/s); the anticipated benefits, construction schedule, and costs associated with the development of our mining facilities in
Investor Contact:
Phil McPherson
303-794-2000 ext. 110
IR@Riot.Inc
Media Contact:
Alexis Brock
303-794-2000 ext. 118
PR@Riot.Inc
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SOURCE Riot Platforms, Inc.
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