Riot Platforms reported Q3 2024 revenue of $84.8 million, up 63% from $51.9 million in Q3 2023, driven by higher Bitcoin prices averaging $61,133 per coin. Bitcoin Mining revenue increased 116% to $67.5 million, while Engineering revenue declined to $12.6 million. The company mined 1,104 Bitcoin during Q3, maintaining consistent production despite increased network difficulty and the April 2024 halving.The company significantly expanded its Bitcoin mining capacity, with total deployed hash rate reaching 28.2 EH/s as of September 30, 2024, a 159% increase year-over-year. Development of the Corsicana Facility continued with 300 MW of mining infrastructure deployed across three buildings, while a fourth 100 MW building remains under construction. The acquisition of Block Mining added 60 MW of operational capacity in Kentucky.Net loss for Q3 2024 was $154.4 million compared to $80.0 million in Q3 2023, impacted by increased operating costs and $38.1 million in unrealized losses on equity investments. The company maintained a strong financial position with $355.7 million in cash and $190.1 million in marketable securities as of quarter-end. Riot expects to achieve a total self-mining hash rate capacity of 34.9 EH/s by end of 2024.

Riot Platforms reported Q3 2024 revenue of $84.8 million, up 63% from $51.9 million in Q3 2023, driven by higher Bitcoin prices averaging $61,133 per coin. Bitcoin Mining revenue increased 116% to $67.5 million, while Engineering revenue declined to $12.6 million. The company mined 1,104 Bitcoin during Q3, maintaining consistent production despite increased network difficulty and the April 2024 halving.The company significantly expanded its Bitcoin mining capacity, with total deployed hash rate reaching 28.2 EH/s as of September 30, 2024, a 159% increase year-over-year. Development of the Corsicana Facility continued with 300 MW of mining infrastructure deployed across three buildings, while a fourth 100 MW building remains under construction. The acquisition of Block Mining added 60 MW of operational capacity in Kentucky.Net loss for Q3 2024 was $154.4 million compared to $80.0 million in Q3 2023, impacted by increased operating costs and $38.1 million in unrealized losses on equity investments. The company maintained a strong financial position with $355.7 million in cash and $190.1 million in marketable securities as of quarter-end. Riot expects to achieve a total self-mining hash rate capacity of 34.9 EH/s by end of 2024.