Riot Unveils Production and Operations Updates for April 2025

Riot Generates 463 Bitcoin in April 2025

CASTLE ROCK, Colo., May 5, 2025 — Riot Platforms, Inc. (NASDAQ: RIOT) (“Riot” or “the Company”), a leading entity in vertically integrated Bitcoin (“BTC”) mining, has released unaudited production and operational updates for April 2025.

Bitcoin Production and Operational 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 due to two consecutive difficulty adjustments during the month,” stated Jason Les, CEO of Riot. “April was pivotal for Riot as we completed the acquisition of all tangible assets from Rhodium at our Rockdale Facility, encompassing 125 MW of power capacity, and mutually resolved all ongoing litigation. This deal concludes the hosting agreement with our last client and signifies Riot’s full exit from the bitcoin mining hosting sector.

“In April, we strategically opted to sell our monthly production of bitcoin to support ongoing growth and operations. We consistently assess optimal funding sources, weighing various factors while prioritizing a robust balance sheet. These sales minimize the need for equity fundraising, thus limiting stock dilution. We intend to continuously observe market conditions and effectively utilize available resources to sustainably finance our operations while maintaining our long-term bitcoin treasury strategy, grounded in our strong confidence in Bitcoin’s future potential.”

Investor Events

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

Human Resources Update

Riot is actively hiring for various positions throughout the Company. Join us in constructing, expanding, and safeguarding the Bitcoin network.

Available positions are listed at:

About Riot Platforms, Inc.

Riot’s (NASDAQ: RIOT) ambition is to become the world’s leading Bitcoin-driven infrastructure platform. Our mission encompasses positively influencing the sectors, networks, and communities we engage with. We believe that merging innovation with strong community partnerships enables the Company to achieve premier execution and generate successful results.

Riot is a Bitcoin mining and digital infrastructure enterprise focused on a vertically integrated approach. The Company operates Bitcoin mining facilities in central Texas and Kentucky, with electrical engineering and fabrication operations in Denver, Colorado, and Houston, Texas.

For further details, visit www.riotplatforms.com.

Safe Harbor

Statements in this press release that are not based on historical facts are forward-looking statements reflecting management’s current expectations, assumptions, and estimates regarding future performance and economic conditions. Such statements depend 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. Given the inherent risks and uncertainties, actual results may differ significantly from those expressed or implied in these forward-looking statements. Terms such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hopes,” and similar expressions, along with their negatives, are intended to identify forward-looking statements. These forward-looking statements may encompass, but are not limited to, remarks about the Company’s progress at its Corsicana Facility and its plans, projections, goals, expectations, and intentions concerning future events and conditions expected to impact the Company’s financial condition, operational results, business strategy, and financial necessities, both short and long-term. Numerous risks and uncertainties could lead to actual results varying materially from those in the forward-looking statements, including: growth-related risks, anticipated AI/HPC demands, feasibility in developing power capacity for AI/HPC, market competition, growth forecasts, innovation capabilities, success in integrating new strategies, production estimates of Bitcoin; hash rate growth predictions (EH/s); prospective benefits, construction timelines, and costs of mining facility expansions in Texas, Kentucky, and beyond; new miner delivery schedules; power access issues; the effect of weather on operations; deployment of new miners; fluctuations in mining pool rewards that may impact Bitcoin output; developing megawatt capacity; risks in realizing expected benefits from immersion cooling; difficulties in integrating acquired businesses, or longer and more complex integrations than expected; or failure to achieve anticipated efficiencies and benefits from our business strategies. Detailed information on factors believed by the Company’s management to potentially cause actual results to differ significantly from the forward-looking statements in this press release can be found in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including detailed discussions of risks, uncertainties, and other factors under the “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as amended, and other SEC filings, which can be accessed at 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 release, and the Company disclaims any intention or obligation to update or revise such forward-looking statements to reflect subsequent events or circumstances or any new information that comes to the Company’s attention, except as required by law. Readers are advised 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.