RIOT) Reports on September 2022 Production, Operations

Riot Blockchain (NASDAQ: RIOT ), an industry leader in Bitcoin mining and data center hosting, has released a production and operations status update for September 2022. Highlights of the report note that Riot produced 355 BTC, an estimated 13% decrease compared to September 2021 , and by month’s end, Riot had approximately 6,775 BTC — all produced by the company’s self-mining operations. The company also sold 300 BTC during the month, resulting in approximately $6.1 million in net revenue, and deployed a fleet of 55,728 miners, with a hash rate capacity of 5.6 exahash per second (“EH/s”). On the infrastructure side, the company’s engineering and construction teams have made significant progress on Riot’s 400 megawatt (“MW”) digital infrastructure expansion project, with progress also noted on planned work for Buildings D and G. Looking forward, Riot predicts a total self-mining hash rate capacity of 12.5 EH/s, assuming full distribution of approx. 115,450 Antminer ASICs while excluding any potential incremental productivity gains from the company’s utilization of 200 MW of immersion cooling infrastructure. According to the announcement, Riot’s self-mining fleet will consist of the latest generation S19 series miners. “Riot made remarkable operational progress in September, which was the final month of our participation in ERCOT’s 4CP program for the year,” Riot CEO Jason Les said in the press release. “We are excited to announce that Building D, the sixth building at our Rockdale facility, is now online. Our team has expanded Riot’s total deployed fleet by 9,070 miners and increased our hashrate capacity to an all-time high of 5.6 EH/s In addition, we have already received nearly 15,000 miners in the S19 series, including the latest generation of S19 XPs. In the coming months, we will remain focused on aggressively increasing our distributed hash rate as we work toward our goal ours to reach 12.5 EH/si in the first quarter of 2023.”

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About Riot Blockchain Inc.

Riot Blockchain’s vision is to be the world’s leading Bitcoin-powered infrastructure platform. The company’s mission is to positively influence the sectors, networks and communities it touches. The company believes that through the combination of an innovative spirit and a strong community partnership, it can achieve best-in-class execution and create successful results. Riot is a Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. Riot Blockchain has Bitcoin mining data center operations in Central Texas, Bitcoin mining in Central Texas, and electrical switchgear and fabrication operations in Denver, Colorado. For more information about the company, visit www.RiotBlockchain.com.

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