Welcome to our dedicated page for Riot Platforms Ord Shs news (Ticker: RIOT), a resource for investors and traders seeking the latest updates and insights on Riot Platforms Ord Shs stock.
Riot Platforms, Inc. (NASDAQ: RIOT) is a Bitcoin mining and digital infrastructure company whose news flow centers on Bitcoin production, power strategy, and large-scale data center development. The company describes itself as a Bitcoin-driven industry leader in the development of large-scale data centers and Bitcoin mining applications, with a vertically integrated model that includes mining operations, engineering, and fabrication.
News updates from Riot frequently include monthly or quarterly Bitcoin production and operations reports. These releases provide unaudited metrics such as Bitcoin produced, average daily production, deployed and operating hash rate, fleet efficiency, Bitcoin held and sold, and power-related credits. They also discuss all-in power costs and the impact of power curtailment and demand response programs on Riot’s operations.
Riot’s news also covers financial results and earnings announcements, typically reported via quarterly press releases and accompanying earnings materials. These items detail total revenue, Bitcoin mining revenue, engineering revenue, net income or loss, and non-GAAP measures such as Adjusted EBITDA, along with commentary on factors influencing performance, such as Bitcoin prices, network hash rate, and power credits.
Another recurring theme in Riot’s news is data center and infrastructure development. The company has reported on progress at its Corsicana data center campus, land acquisitions, campus design work, and plans to build core and shell capacity for data centers intended to support high performance compute workloads and Bitcoin mining. Executive and governance updates, such as changes in the chief financial officer role and adjustments to incentive plans, also appear in Riot’s news flow.
Investors and followers of RIOT can use this news page to review production updates, financial results, infrastructure developments, and corporate announcements that the company has publicly released.
Riot Platforms, Inc. (NASDAQ: RIOT), a leader in Bitcoin mining, reported a record production of 740 BTC in January 2023, up 62% from 458 BTC in January 2022. The company held 6,978 BTC at the end of January and generated approximately $13.7 million from the sale of 700 BTC. Despite an operational setback due to severe winter storms damaging its Rockdale facility, which caused a reduction in hash rate capacity to 9.3 EH/s, Riot continues to expand its infrastructure, including the progress on Building E, which is now 50% complete. However, a delay in reaching the target hash rate capacity of 12.5 EH/s is anticipated due to ongoing repairs.
Riot Platforms, Inc. (NASDAQ: RIOT) achieved significant milestones in December 2022, producing an all-time high of 659 Bitcoin, a 55% increase from 425 BTC in December 2021. The company earned $4.9 million in power credits equivalent to approximately 290 BTC due to operational curtailments. As of December 31, 2022, Riot held 6,952 BTC and sold 600 BTC for about $10.2 million. Riot's hash rate capacity reached 9.7 EH/s with plans to expand to 12.5 EH/s in Q1 2023, despite experiencing operational disruptions due to severe weather.
Riot Blockchain (NASDAQ: RIOT) reports a record production of 521 Bitcoin in November 2022, up 12% from 466 BTC in November 2021. The company holds 6,897 BTC as of November 30, 2022. Riot sold 450 BTC for approximately $8.1 million. The hash rate capacity reached 7.7 EH/s, with a goal to achieve 12.5 EH/s in Q1 2023. Despite the record figures, actual production fell short of the expected 660 BTC due to volatility in the mining pool. Riot plans to switch to a more consistent mining pool for better results.
Riot Blockchain (NASDAQ: RIOT) reported a Q3 2022 total revenue of $46.3 million, down from $64.8 million in Q3 2021, primarily due to lower Bitcoin production from curtailment activities and a 49% decrease in Bitcoin market price. The company produced 1,042 Bitcoin, a reduction from 1,292 Bitcoin in the same period last year. Riot earned $13.1 million in power curtailment credits, significantly up from $2.5 million in Q3 2021. However, net loss increased to $(36.6) million compared to $(15.3) million a year earlier. Riot maintains a strong financial position with $369.8 million in working capital.
Riot Blockchain produced 509 Bitcoin in October 2022, marking a 10% increase from the previous year, with a total of approximately 6,825 BTC held by the company. Riot sold 450 BTC for about $8.7 million. The company's hash rate capacity reached an all-time high of 6.9 EH/s with plans to expand to 12.5 EH/s by Q1 2023. Riot received 7,385 new miners in October, boosting its operational capacity. Major infrastructure developments include the completion of its second immersion-cooled building and ongoing work on the Corsicana facility.
Riot Blockchain, a leader in Bitcoin mining, has commenced groundbreaking on its new Corsicana Facility in Navarro County, Texas. This 1 GW expansion will enhance Riot's total developed capacity to 1.7 GW. The initial phase will include 400 MW capacity, creating approximately 270 jobs and focusing on self-mining and data center hosting operations expected to start by Q4 2023. This project is noteworthy as it marks the first 1 GW load approved by ERCOT, reflecting Riot's strong partnership-driven approach and commitment to local communities.
Riot Blockchain produced 355 BTC in September 2022, marking a 13% decline from the previous year. As of September 30, 2022, the company holds 6,775 BTC and sold 300 BTC for approximately $6.1 million. Riot's miner fleet increased to 55,728, achieving a hash rate capacity of 5.6 EH/s. The company aims to reach 12.5 EH/s by Q1 2023, supported by the deployment of 115,450 miners. Significant progress was made on infrastructure expansion, contributing to efficiency and future growth prospects.
Riot Blockchain (NASDAQ: RIOT) reported Bitcoin production of 374 BTC in August 2022, down 15% from 441 BTC in August 2021. The company earned $3.0 million in power credits from curtailment activities, equivalent to about 136 BTC.
Riot sold 350 BTC generating $7.7 million. The miner fleet consists of 46,658 miners with a hash rate of 4.8 EH/s. The company expects to increase its hash rate to 12.5 EH/s by Q1 2023.
Riot Blockchain reported a significant increase in total revenue to $72.9 million for Q2 2022, up 112% from Q2 2021, driven by a 107% increase in BTC production to 1,395 BTC. Despite this growth, the company recorded a net loss of $366.3 million, impacted by non-cash impairment charges. Cash increased to $270.5 million, bolstered by a successful equity offering raising $267 million. The firm is progressing on expansions that will enhance its operational capacity, aiming for a total hash rate of 12.5 EH/s by Q1 2023.
Riot Blockchain (NASDAQ: RIOT) reported its Bitcoin production and operations for July 2022, generating 318 BTC, a 28% decrease from July 2021. The company earned an estimated $9.5 million in power credits, equal to roughly 439 BTC, by curtailing energy consumption. Riot currently holds 6,696 BTC and sold 275 BTC for about $5.6 million. The company relocated miners to reduce costs and anticipates a hash rate capacity of 12.5 EH/s in early 2023.