Financial Performance - Riot Platforms reported a net income of $211777 thousand for the three months ended March 31, 2024, compared to a net income of $18513 thousand for the same period in 2023[2] - Adjusted EBITDA for Q1 2024 was $245729 thousand, a significant increase from $81698 thousand in Q1 2023[2] - Revenue increased by 65% year-over-year, reaching $793 million in Q1 2024[41] - Bitcoin Mining revenue was $74597 thousand in Q1 2024, compared to $48023 thousand in Q1 2023[110] Bitcoin Production and Holdings - Bitcoin production decreased by 35% year-over-year to 1364 BTC in Q1 2024, due to an 89% increase in the average global network hash rate[23, 17] - The company held 8490 BTC as of March 31, 2024, with an estimated fair value of approximately $6056 million[8, 18] - The cost to mine 1 BTC was $23034 in Q1 2024[8] Hash Rate and Infrastructure - Ending hash rate deployed increased by 18% year-over-year to 124 EH/s in Q1 2024[39, 48] - The company is expanding its infrastructure with the Corsicana Facility, aiming for a hash rate of 315 EH/s by the end of 2024 and a long-term goal of 100 EH/s[35, 68] Operational Efficiency - Cost of power decreased by 10% to 38 c/kWh in Q1 2024, compared to 42 c/kWh in Q1 2023[8, 42] - Power curtailment credits increased by 67% year-over-year to $51 million in Q1 2024[20]

Exhibit 99.1 RIOT PLATFORMS REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS, CURRENT OPERATIONAL AND FINANCIAL HIGHLIGHTS Riot Reports $79.3 Million in Total Revenue and Successful Energization of New Corsicana Facility CASTLE ROCK, Colo., May 1, 2024 (GLOBE NEWSWIRE) -- Riot Platforms, Inc. (NASDAQ: RIOT) ("Riot" or "the Company"), an industry leader in vertically integrated Bitcoin mining, reported financial results for the three- month period ended March 31, 2024. The unaudited financial statements and acco ...

Riot Platforms (RIOT) will report its first-quarter 2024 results on May 1, before market open.Let’s check out how RIOT is currently doing.Stock Performance & ValuationThe stock gained 13.4% over the past year. Despite an impressive gain, RIOT underperformed the 55% growth of the industry it belongs to and the Zacks S&P 500 composite’s 23.5% increase.Based on EV-to-EBITDA, RIOT is currently trading at 9.54 compared with the industry’s 60.02. If we look at the Price/Earnings ratio, PSN shares are currently tr ...

The latest trading session saw Riot Platforms, Inc. (RIOT) ending at $11.88, denoting a +0.25% adjustment from its last day's close. The stock outpaced the S&P 500's daily gain of 0.02%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, added 0.1%.Heading into today, shares of the company had lost 1.66% over the past month, outpacing the Business Services sector's loss of 5.08% and the S&P 500's loss of 3.01% in that time.Investors will be eagerly watching for the performance of Riot Platfo ...

Castle Rock, CO, April 24, 2024 (GLOBE NEWSWIRE) -- Riot Platforms, Inc. (NASDAQ: RIOT) (“Riot” or “the Company”), an industry leader in vertically integrated Bitcoin (“BTC”) mining, announced today that it has scheduled its first quarter 2024 earnings conference call for Wednesday, May 1, 2024, at 8:30 A.M. EST. During the call, Riot will discuss the results for the quarter ended March 31, 2024.   This conference call will be available through the audio webcast, please use this link here to register. Addit ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about Riot Platforms, Inc. (RIOT) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Riot Platforms, Inc. currently ...

Riot Platforms, Inc. (RIOT) shares soared 16% in the last trading session to close at $11.85. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.7% loss over the past four weeks.The stock recorded a price hike in response to the increase in the price of Bitcoin, following the ‘halving’ and the launch of Runes. This company is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-ye ...

Last weekend, crypto enthusiasts braced for the 2024 Bitcoin (BTC-USD) halving. The long-awaited event has come and gone and, so far, Bitcoin prices haven’t really suffered. On the contrary, BTC is more than 4% in the green for the past five days. This has been an excellent development for crypto mining stocks, most of which have also enjoyed impressive growth over the past week. But Riot Platforms (NASDAQ:RIOT) is a particular standout.RIOT stock has surged more than 44% over the past five days, rising ste ...

Riot Platforms, Inc. (RIOT) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this company have returned -9.7% over the past month versus the Zacks S&P 500 composite's -4.2% change. The Zacks Technology Services industry, to which Riot Platforms, Inc. belongs, has lost 10.6% over this period. Now the key question is: Where could the stock be headed in the near term?While ...

CASTLE ROCK, Colo., April 18, 2024 (GLOBE NEWSWIRE) -- Riot Platforms, Inc. (NASDAQ:RIOT) ("Riot" or "the Company"), an industry leader in vertically integrated Bitcoin ("BTC") mining, announced today that it has successfully energized the substation at the Company's Corsicana Facility. "Two years ago, we purchased 265 acres of land in Navarro County, Texas, driven by our vision to build the world's largest Bitcoin mining facility, and today, we have achieved a new milestone in turning that vision into a re ...