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Riot Platforms | 8-K: Riot Platforms Announced the Power up of Its New Corsikana Facility, Along with an Update on the Company's Progress and Discussion and Analysis on Bitcoin

SEC announcement ·  Apr 19 00:21
Summary by Futu AI
On April 18, 2024, Riot Platforms, Inc., a prominent Bitcoin mining and digital infrastructure company, announced the energization of its second large-scale bitcoin mining data center, the Corsicana Facility, located in Corsicana, Texas. The energization marks a significant milestone in Riot's strategic initiative to expand its mining operations and is a step towards achieving a self-mining hash rate capacity of 31 EH/s by the end of 2024. The Corsicana Facility, once fully developed, is expected to be the largest known Bitcoin mining facility in the world by capacity, with a total capacity of 1 GW. The operational substation will initially support a 400 MW phase of development, contributing an additional 16 EH/s to Riot's self-mining capacity. The first batch of...Show More
On April 18, 2024, Riot Platforms, Inc., a prominent Bitcoin mining and digital infrastructure company, announced the energization of its second large-scale bitcoin mining data center, the Corsicana Facility, located in Corsicana, Texas. The energization marks a significant milestone in Riot's strategic initiative to expand its mining operations and is a step towards achieving a self-mining hash rate capacity of 31 EH/s by the end of 2024. The Corsicana Facility, once fully developed, is expected to be the largest known Bitcoin mining facility in the world by capacity, with a total capacity of 1 GW. The operational substation will initially support a 400 MW phase of development, contributing an additional 16 EH/s to Riot's self-mining capacity. The first batch of miners in Building A1 are already hashing, and further deployment will continue until reaching a capacity of 3.7 EH/s. Subsequent buildings, A2, B1, and B2, will progressively become operational over the coming months, adding an additional 12 EH/s. Riot Platforms, headquartered in Castle Rock, Colorado, is focused on a vertically integrated strategy and operates electrical switchgear engineering and fabrication operations in Denver, Colorado. The company's press release also included forward-looking statements regarding its future operations, economic conditions, and the Bitcoin industry, cautioning investors about the inherent risks and uncertainties.

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