Riot Announces February 2025 Production and Operations Updates

Riot Produces 470 Bitcoin in February 2025

CASTLE ROCK, Colo., March 4, 2025 /PRNewswire/ -- Riot Platforms, Inc. (NASDAQ: RIOT) ("Riot" or "the Company"), an industry leader in vertically integrated Bitcoin ("BTC") mining, announces unaudited production and operations updates for February 2025.  

Bitcoin Production and Operations Updates for February 2025

1. Unaudited, estimated.
2. As of month-end.
3. Average over the month.
4. Estimated power curtailment credits.
5. Estimated credits received from participation in ERCOT and MISO demand response programs.
6. Estimated. Inclusive of all transmission and distribution charges, fees, adders, and taxes. Net of Total Power Credits.

"Riot mined 470 bitcoin in February, with total production impacted by planned maintenance, elevated curtailment driven by higher power prices as a result of colder weather, and a shortened month," said Jason Les, CEO of Riot. "In spite of these factors which impacted total production, ongoing improvements in utilization and operational efficiencies across all our facilities meant that bitcoin produced per day declined only 1% in February, relative to the prior month.

"Our AI/HPC process remains our top priority, and we have been encouraged by the strong demand we see in the market. The Corsicana Facility represents a unique opportunity to access up to 1.0 gigawatt of power by 2026 in near proximity to the Tier 1 data center market of Dallas, Texas, and we will continue to aggressively pursue an outcome that best maximizes the value of Riot's assets."

Investor Events

• Cantor Fitzgerald Global Technology Conference held in New York City, NY, March 11^th-12^th.
• 37^th Annual Roth Conference held in Dana Point, CA, March 17^th-18^th.

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 Texas and Kentucky, and electrical engineering and fabrication operations in Denver, Colorado, and Houston, Texas.

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, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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," similar expressions and their negatives are intended to identify forward-looking statements. These forward-looking statements may include, but are not limited to, statements relating to the Company's development at its Corsicana Facility and the Company's plans, projections, objectives, expectations, and intentions about future events and trends that it believes may affect the Company's financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation: risks related to the Company's growth, the anticipated demand for AI/HPC uses, the feasibility of developing the Company's power capacity for AI/HPC uses, competition in the markets in which the Company operates, market growth, the Company's ability to innovate and expand into new markets, the Company's ability to realize benefits from its implementation of new strategies into its business, 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 Texas, Kentucky and elsewhere; our expected schedule of new miner deliveries; our access to electrical power; the impact of weather events on our operations and results; our ability to successfully deploy new miners; the variance in our mining pool rewards may negatively impact our results of Bitcoin production; our megawatt capacity under development; risks related to the Company's inability to realize the anticipated benefits from immersion cooling; the inability to integrate acquired businesses successfully, or such integration may take longer or be more difficult, time-consuming or costly to accomplish than anticipated; or the failure of the Company to otherwise realize anticipated efficiencies and strategic and financial benefits from our business strategies. Detailed information regarding the factors identified by the Company's management which they believe may cause actual results to differ materially from those expressed or implied by such forward-looking statements in this press release may be found in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), including the risks, uncertainties and other factors discussed under the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as amended, and the other filings the Company makes with the SEC, copies of which may be obtained from the SEC's website, www.sec.gov. All forward-looking statements included in this press release are made only as of the date of this press release, and the Company disclaims any intention or obligation to update or revise any such forward-looking statements to reflect events or circumstances that subsequently occur, or of which the Company hereafter becomes aware, except as required by law. Persons reading this press release are cautioned not to place undue reliance on such forward-looking statements.   

Investor Contact:   
Phil McPherson   
303-794-2000 ext. 110
[email protected]   

Media Contact:   
Alexis Brock   
303-794-2000 ext. 118
[email protected]   

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SOURCE Riot Platforms, Inc.