Riot Platforms (RIOT) produced 639 BTC in April

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 April 2023.

Bitcoin Production and Operations Updates for April 2023

• Riot produced 639 BTC, an increase of approximately 26% as compared to April 2022 production of 508 BTC.
• Riot held approximately 7,112 BTC as of April 30, 2023, all produced by the Company’s self-mining operations.
• Riot sold 600 BTC, generating net proceeds of approximately $17.6 million.
• Riot had a deployed fleet of 94,176 miners, with a hash rate capacity of 10.5 exahash per second (“EH/s”), as of April 30, 2023, which excludes 17,040 miners that are offline as a result of damage to Building G from the severe winter weather in late December in Texas.

“Riot produced 639 Bitcoin in the month of April, continuing our strong monthly mining results in 2023 amidst a competitive Bitcoin mining environment, thanks to the dedication and hard work of our teams,” said Jason Les, CEO of Riot. “Additionally, as we near completion of the long-term expansion project at our Rockdale Facility, our teams have been focused on operational enhancements to increase efficiency, including improving cooling in Buildings D and E through the installation of waterwalls. We also continue to work on repairs to our damaged immersion building, Building G, which remains on track to come back online in the second half of 2023.

Our Rockdale Facility is a best-in-class Bitcoin mining facility and the expertise of our teams there is also being carried over into the development of our new Corsicana Facility, which upon completion will continue our track record of building and operating premiere large-scale Bitcoin mining facilities.”

Mining Deployment Update

Riot ended the month of April with approximately 800 miners staged for deployment. Upon deployment of the staged miners, the Company expects to have a total of 94,976 miners deployed with a hash rate capacity of approximately 10.6 EH/s (which excludes 17,040 miners currently offline in Building G).

Infrastructure Update

Throughout the month of April, Riot’s engineering teams made significant progress towards the build out of the Company's ongoing 400 megawatt ("MW") digital infrastructure expansion project at our Rockdale Facility. In particular, in Building D, the installation of water cooling pads has been completed, while in Building E, the evaporative water wall system framing has been installed.

Estimated Hash Rate Growth

Due to the ongoing impact of damage incurred to Buildings F and G during the severe winter storms in Texas in late December, Riot now anticipates achieving a total self-mining hash rate capacity of 12.5 EH/s in the second half of 2023.

Human Resources

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.

Conference Schedule

Riot will be presenting at the following upcoming conferences:

• Needham 18th Annual Technology & Media Conference on May 16th in New York City.
• Bitcoin 2023 May 18th – 20th in Miami.
• B. Riley 23rd Annual Institutional Conference May 24th – 25th in Los Angeles.

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