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Riot Platforms' February 2025 Production and Operations Summary

Riot Platforms, Inc. (NASDAQ: RIOT), a key player in vertically integrated Bitcoin mining, has released its unaudited production and operational updates for February 2025. With 470 Bitcoins mined during the month, the company has encountered various challenges that influenced overall production. Factors such as planned maintenance, increased curtailment due to elevated power prices from colder weather, and the short month impacted total outcomes.

Bitcoin Production Metrics

In February, Riot produced 470 Bitcoins, reflecting a decrease of 11% compared to January 2025, when it mined 527 Bitcoins. However, the company's daily average Bitcoin production held relatively stable, with a minor drop of 1%, from 17.0 to 16.8 Bitcoins per day. Additionally, Riot's total Bitcoin holdings increased to 18,692, a 3% rise from the preceding month and more than 132% year-over-year from February 2024.

Hash Rate Developments

Riot's hash rate has shown promising figures with a total deployed hash rate of 33.6 EH/s, matching January's metrics while rising significantly from last year's 12.4 EH/s. Breaking down these figures further, the operational hash rates across different facilities indicated a mixed performance, with Rockdale achieving 12.9 EH/s and Corsicana at 13.9 EH/s, representing promising growth compared to 2024.

Financial Metrics and Costs

Despite the challenges faced, the company reported total power credits of $2.8 million for February, which is a drop from $4.2 million in January. This decrease primarily stems from lower operational efficiencies due to weather impacts but still represents a striking increase of 196% compared to the previous year. Notably, the all-in power costs remained competitive, with costs reported at 3.6c/kWh across total facilities.

Strategic Developments

According to Jason Les, CEO of Riot, these production figures showcase the resilience of the company’s operational capacities despite external pressures. The Corsicana Facility, located near the Dallas data center market in Texas, holds particular potential. It represents an opportunity to access up to 1.0 GW of power by 2026, which the company plans to leverage in its future operations.

Riot continues to focus on advancements in Artificial Intelligence and High-Performance Computing (AI/HPC), indicating a strong market demand for these initiatives. The management is confident that operational enhancements will drive better efficiencies, ensuring they can meet investor expectations and capture growth in the hardening BTC mining landscape.

Upcoming Investor Engagements

Riot Platforms will participate in several upcoming investor conferences, including the Cantor Fitzgerald Global Technology Conference in New York City on March 11-12, followed by the 37th Annual Roth Conference in Dana Point, California, on March 17-18. These events aim to enhance investor awareness and provide a closer look at the company’s strategic direction.

Join Riot’s Team

On a human resources front, Riot is actively recruiting to expand its workforce. Open positions are readily available on their careers page, reflecting their commitment to building and securing the Bitcoin network effectively.

Conclusion

In summary, while February 2025 presented a few hurdles for Riot Platforms, the company's trajectory remains upward, supported by robust operational strategies and positive market dynamics. Investors and stakeholders can look forward to continued updates as the company navigates its growth in the Bitcoin mining industry.

For more detailed information, please visit Riot Platforms.