Riot Platforms reported Q2 2024 total revenue of $70.0 million, with Bitcoin mining revenue of $55.8 million and engineering revenue of $9.6 million. The company produced 844 Bitcoin during the quarter, a 52% decrease YoY due to the April halving event. Power curtailment credits totaled $13.9 million, resulting in an average direct cost to mine Bitcoin of $25,327.The company achieved significant operational growth, reaching 22.0 EH/s deployed hash rate and energizing two buildings totaling 200 MW at its new Corsicana facility. Riot maintained a strong financial position with $646.5 million in working capital, including $481.2 million cash and 9,334 Bitcoin holdings valued at $585.0 million as of June 30.Looking ahead, Riot raised its 2024 hash rate guidance to 36 EH/s following the acquisition of Block Mining, which adds 1 EH/s immediately and potential expansion to over 300 MW in Kentucky. The company expects to complete the first 400 MW phase at Corsicana by end of 2024, adding 16 EH/s to its capacity.

Riot Platforms reported Q2 2024 total revenue of $70.0 million, with Bitcoin mining revenue of $55.8 million and engineering revenue of $9.6 million. The company produced 844 Bitcoin during the quarter, a 52% decrease YoY due to the April halving event. Power curtailment credits totaled $13.9 million, resulting in an average direct cost to mine Bitcoin of $25,327.The company achieved significant operational growth, reaching 22.0 EH/s deployed hash rate and energizing two buildings totaling 200 MW at its new Corsicana facility. Riot maintained a strong financial position with $646.5 million in working capital, including $481.2 million cash and 9,334 Bitcoin holdings valued at $585.0 million as of June 30.Looking ahead, Riot raised its 2024 hash rate guidance to 36 EH/s following the acquisition of Block Mining, which adds 1 EH/s immediately and potential expansion to over 300 MW in Kentucky. The company expects to complete the first 400 MW phase at Corsicana by end of 2024, adding 16 EH/s to its capacity.