Riot Blockchain Announces July 2022 Production and Operations Updates

Riot Blockchain Announces July 2022 Production and Operations UpdatesRiot Produces 318 Bitcoin in July 2022 While Contributing to Power Grid Stability in Texas and Further Strengthening Financial Position, Generating Estimated Power Credits of $9.5 MillionCastle Rock, CO, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot,” “Riot Blockchain” or “the Company”), an industry leader in Bitcoin (“BTC”) mining and hosting, announces unaudited production and operations updates for July 2022. As of July 31, 2022, Riot held approximately 6,696 BTC, all produced by the Company’s self-mining operations. In July 2022, Riot sold 275 BTC, generating net proceeds of approximately $5.6 million. Curtailing the Company’s power consumption reduced BTC production by an estimated 21% in July, but also significantly reduced Riot’s power costs for the month. In April 2022, Riot announced a 1 gigawatt (“GW”) development to expand its mining and hosting capabilities in Navarro County, Texas.