Riot Platforms reported Q2 2024 revenue of $70.0 million, with Bitcoin mining revenue increasing 12% to $55.8 million despite lower production, driven by higher Bitcoin prices averaging $66,071 versus $28,022 in Q2 2023. The company mined 2,208 Bitcoin in H1 2024, down from 3,890 in H1 2023, primarily due to increased network difficulty and the April 2024 halving. Total deployed hash rate capacity reached 22.0 EH/s, up 105.6% year-over-year.The company continued expanding its vertically integrated operations, with the Corsicana Facility commencing Bitcoin mining in April 2024. The first 100MW building is complete and the second 100MW building is nearly operational. Development costs totaled $323.2 million through June 30, with an additional $38.8 million expected in 2024. The facility is expected to reach 1.0 GW capacity upon completion.Riot maintained a strong financial position with $481.2 million in cash and no significant long-term debt as of June 30, 2024. The company raised $527.0 million through ATM offerings in H1 2024 and acquired Block Mining in July 2024 for $92.5 million to expand its geographic footprint. Riot expects to achieve a total self-mining hash rate capacity of approximately 36.3 EH/s by end of 2024.

Riot Platforms reported Q2 2024 revenue of $70.0 million, with Bitcoin mining revenue increasing 12% to $55.8 million despite lower production, driven by higher Bitcoin prices averaging $66,071 versus $28,022 in Q2 2023. The company mined 2,208 Bitcoin in H1 2024, down from 3,890 in H1 2023, primarily due to increased network difficulty and the April 2024 halving. Total deployed hash rate capacity reached 22.0 EH/s, up 105.6% year-over-year.The company continued expanding its vertically integrated operations, with the Corsicana Facility commencing Bitcoin mining in April 2024. The first 100MW building is complete and the second 100MW building is nearly operational. Development costs totaled $323.2 million through June 30, with an additional $38.8 million expected in 2024. The facility is expected to reach 1.0 GW capacity upon completion.Riot maintained a strong financial position with $481.2 million in cash and no significant long-term debt as of June 30, 2024. The company raised $527.0 million through ATM offerings in H1 2024 and acquired Block Mining in July 2024 for $92.5 million to expand its geographic footprint. Riot expects to achieve a total self-mining hash rate capacity of approximately 36.3 EH/s by end of 2024.