Riot Announces April 2025 Production and Operations Updates

Riot Produces 463 Bitcoin in April 2025

CASTLE ROCK, Colo., May 5, 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 April 2025.

Bitcoin Production and Operations Updates for April 2025

1. Unaudited, estimated.
2. As of month-end.
3. Includes 1,900 in restricted bitcoin.
4. Average over the month.
5. Estimated power curtailment credits.
6. Estimated credits received from participation in ERCOT and MISO demand response programs.
7. Estimated. Inclusive of all transmission and distribution charges, fees, adders, and taxes. Net of Total Power Credits.

"Riot mined 463 bitcoin in April as the network experienced two successive difficulty adjustments during the month," said Jason Les, CEO of Riot. "April was a significant month for Riot as we closed on the acquisition of all of the tangible assets of Rhodium at our Rockdale Facility, including 125 MW of power capacity, and mutually ended all outstanding litigation. This transaction ends the hosting agreement with our last hosting client and marks the complete exit of Riot from the bitcoin mining hosting business.

"During the month of April, we made the strategic decision to sell our monthly production of bitcoin to fund ongoing growth and operations. We continuously evaluate the best funding sources considering a multitude of factors and prioritizing a strong balance sheet. These sales reduce the need for equity fundraising, limiting the amount of dilution in our stock. We will continue to monitor market conditions on an ongoing basis and utilize all tools available to best sustainably finance our business, while remaining committed to our long-term bitcoin treasury strategy, reflecting our strong conviction in Bitcoin's future potential."

Investor Events

• Texas Energy and Mining Summit, held in Austin, TX, May 6^th – 7^th.
• Needham 20^th Annual Technology Conference, held virtually, May 8^th – 12^th.
• AIM Summit London, held in London, UK, May 19^th – 20^th.
• B. Riley 25^th Annual Investor Conference, held in Los Angeles, CA, May 21^{st –} 22^nd.
• Bitcoin 2025, held in Las Vegas, NV, May 27^th – 29^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.