Riot Platforms Reports First Quarter 2023 Financial Results, Current Operational and Financial Highlights

Produced 2,115 Bitcoin during the three-month period ended March 31, 2023, as compared to 1,405 Bitcoin during the same three-month period in 2022. Earned $3.1 million in power curtailment credits for the three-month period ended March 31, 2023, as compared to $2.6 million in power curtailment credits earned for the same three-month period in 2022. Bitcoin Mining cost of revenues consist primarily of direct production costs of mining operations, including electricity, labor, and insurance, but excluding depreciation and amortization. Data Center Hosting cost in excess of revenues for the three-month period ended March 31, 2023 was $16.6 million. The Company has Bitcoin mining data center operations in central Texas, Bitcoin mining operations in central Texas, and electrical switchgear engineering and fabrication operations in Denver, Colorado.