Riot Reveals Production and Operations Updates for January 2025

In January 2025, Riot Platforms, Inc., a prominent figure in the Bitcoin mining industry, proudly announced that they had produced a total of 527 Bitcoins during the month. This uptick in production is a positive sign for the company, especially considering the challenges posed by the increasing complexity of the network. Jason Les, the CEO of Riot, expressed his satisfaction with this achievement, highlighting that this marked the second consecutive month of increased production.

Throughout January, Riot made significant progress by completing the commissioning of the Corsicana Facility. This development led to all systems being fully operational, with the Corsicana Facility reaching a deployed hash rate of 15.7 EH/s by the end of the month. The successful deployment of new miners and immersion systems also contributed to an improvement in the operational hash rate and utilization rates.

Furthermore, Riot initiated a formal evaluation process for the remaining 600 MW of power capacity at the Corsicana Facility, exploring the potential for AI/HPC applications. To facilitate this evaluation, Riot has engaged Altman Solon, a reputable consultant in the data center industry, to conduct a feasibility assessment of the facility. The Company eagerly anticipates the outcomes of this evaluation, which will undoubtedly influence future decisions and developments.

As part of its growth strategy, Riot has decided to redirect its focus away from the expansion of Bitcoin mining operations at the Corsicana Facility. Instead, the Company will explore AI/HPC opportunities, necessitating a reduction in its projected total self-mining hash rate capacity growth and associated capital expenditures for 2025. Originally aiming to achieve a total hash rate capacity of 46.7 EH/s by the end of the year, Riot now expects to conclude 2025 with a hash rate of 38.4 EH/s due to this shift in focus.

Amid these developments, Riot is gearing up for the upcoming Bernstein’s 3rd Annual TMT Forum scheduled to take place in Menlo Park, CA on February 26th – 27th. This event provides a valuable platform for the Company to engage with investors and other industry stakeholders, fostering relationships and exchanging insights.

On the human resources front, Riot is actively seeking talented individuals to join their team and contribute to the growth, expansion, and security of the Bitcoin network. Open positions are available across various functions within the Company, presenting an exciting opportunity for individuals looking to make an impact in the dynamic world of cryptocurrency and blockchain technology.