March 22, 2023

Riot Platforms Reports Strong Financial Results for 2022

Castle Rock, Colo. – Riot Platforms, Inc. (NASDAQ: RIOT), a leading Bitcoin mining and data center hosting company, has reported strong financial results for the full year ended December 31, 2022. The audited financial statements are available on Riot’s website.

The company’s CEO, Jason Les, announced that Riot had achieved significant growth in hash rate, successfully expanded its Rockdale Facility, made continued progress on its Corsicana Facility development, and lowered its industry-leading cost of Bitcoin production, all while maintaining a strong financial position.

Riot more than tripled its hash rate capacity in 2022, leading to numerous monthly production records and finishing the year at an impressive 2.5 exahashes per second. The company’s Rockdale Facility, which was acquired in 2021, has been expanded to 750 MW, making it one of the largest Bitcoin mining facilities in the world.

Riot’s Corsicana Facility, which is currently under development, is expected to have a capacity of 1 GW and is on track to begin operations in the second half of 2023. The company’s cost of Bitcoin production has also decreased, thanks to the use of more efficient mining equipment and the optimization of its mining operations.

“We are thrilled with the progress we have made in 2022 and are excited about the opportunities ahead,” said Les. “We remain committed to our mission of being a leading Bitcoin mining and data center hosting company and look forward to continuing to deliver value to our shareholders.”

Riot’s strong financial results for 2022 are a testament to the company’s commitment to innovation and growth in the Bitcoin mining industry. With its expanding facilities and optimized operations, Riot is well-positioned to continue to be a leader in the industry for years to come.

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