News of a prominent investor's entry into Riot Platforms (RIOT 4.76%) juiced the cryptocurrency miner and investor's stock on Thursday. Eager investors piled into its shares, sending their value almost 5% higher on the day. That made the stock something of an outlier, as its leap well into positive territory contrasted with the S&P 500 index's 0.5% decline that session.An activist apparently buys inThat morning, The Wall Street Journal reported that Starboard Value, a veteran corporate gadfly, had purchased ...

Riot Platforms, Inc. RIOT shares are little changed on Thursday. But that may not be the case for long.A moving average crossover strategy has just flashed a sell signal. This is why our team of technical analysts has made it our Stock of the Day.Moving average crossover strategies are very popular on Wall Street. They are easy to understand and test — and are completely objective.The red line on the chart is the 20-day simple moving average. It is the average closing price of the past 20 days.The blue line ...

Bitcoin Production and Operations Updates for November 2024  Comparison (%)   Metric November 2024 1 October 2024 1 November 2023 Month/Month Year/Year Bitcoin Produced 495 505 552 -2 % -10 % Average Bitcoin Produced per Day 16.5 16.3 18.4 1 % -10 % Bitcoin Held 2 11,425 10,928</ ...

Riot Produces 505 Bitcoin in October 2024 and Increases Hash Rate Deployed to 29.4 EH/s CASTLE ROCK, Colo., Nov. 4, 2024 /PRNewswire/ -- Riot Platforms, Inc. (NASDAQ: RIOT) ("Riot" or "the Company"), an industry leader in vertically integrated Bitcoin ("BTC") mining, announces unaudited production and operations updates for October 2024.  Bitcoin Production and Operations Updates for October 2024 Riot's Corsicana Facility Riot's Corsicana Facility, Building B1 Hash Rate Growth Comparison ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to: Commission file number: 001-33675 RIOT PLATFORMS, INC. (Exact name of registrant as specified in its charter) Nevada 84-1553387 (State or other juri ...

For the quarter ended September 2024, Riot Platforms, Inc. (RIOT) reported revenue of $84.79 million, up 63.4% over the same period last year. EPS came in at $0.54, compared to -$0.25 in the year-ago quarter. The reported revenue represents a surprise of -5.97% over the Zacks Consensus Estimate of $90.17 million. With the consensus EPS estimate being -$0.22, the EPS surprise was +345.45%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectation ...

Riot Platforms, Inc. (RIOT) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of a loss of $0.22 per share. This compares to loss of $0.25 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 345.45%. A quarter ago, it was expected that this company would post a loss of $0.16 per share when it actually produced a loss of $0.32, delivering a surprise of -100%. Over the last four quarters, the ...

Financial Data and Key Metrics - Total revenue for Q3 2024 was $84.8 million, a 65% increase year-over-year compared to $51.9 million in Q3 2023, driven primarily by higher Bitcoin prices [17] - Gross profit for Q3 2024 was $24.3 million, down from $37.7 million in Q3 2023 [17] - Non-GAAP adjusted EBITDA for Q3 2024 was a loss of $3.6 million, compared to a loss of $3.1 million in Q3 2023 [17] - Net loss for Q3 2024 was $154.4 million or $0.54 per share, compared to a net loss of $80 million or $0.44 per share in Q3 2023 [19] - Bitcoin mining revenue for Q3 2024 was $67.5 million, a 116% increase compared to $31.2 million in Q3 2023 [20] - Bitcoin mining gross profit for Q3 2024 was $28.4 million, representing a margin of 42%, compared to $56.4 million or a margin of 181% in Q3 2023 [20] - The company generated $12.4 million in power credits during Q3 2024, lowering the all-in cost of power to $3.1 cents per kilowatt hour [9] Business Line Data and Key Metrics - Bitcoin mining cost per Bitcoin in Q3 2024 was $35,376, with power costs accounting for $26,673 per Bitcoin (75% of total cost) [22] - Direct non-power costs per Bitcoin mined were $8,703, down from 41% of total costs in Q2 2024 to 25% in Q3 2024, reflecting economies of scale [23] - The engineering business (ESSMetron) reported revenue of $12.6 million in Q3 2024, a decrease of $2.9 million compared to Q3 2023, primarily due to delays in a large government contract [24] - ESSMetron reported a gross loss of $0.9 million in Q3 2024, compared to a gross profit of $2.3 million in Q3 2023 [24] Market Data and Key Metrics - The company mined 1,104 Bitcoin in Q3 2024, in line with the 1,106 Bitcoin mined in Q3 2023, despite the Bitcoin block subsidy halving event in April 2024 [16] - The company ended Q3 2024 with 10,427 Bitcoin, a 42% increase compared to 7,327 Bitcoin held at the end of Q3 2023 [16] - The global network hash rate increased by 4% quarter-over-quarter, from 604 exahash in Q2 2024 to 625 exahash in Q3 2024 [21] - The company's total deployed hash rate increased by 27% quarter-over-quarter, from 22 exahash to 28 exahash, meeting the quarter-end target [8] Company Strategy and Industry Competition - The company's primary strategic focus is on developing a leading vertically integrated Bitcoin mining company, built on three key pillars: significant scale, low-cost production, and a strong balance sheet [7] - The company is on track to reach 35 exahash by the end of 2024, with plans to achieve 100 exahash of self-mining hash rate in the future [29] - The company is expanding its Corsicana Facility, which will add 600 megawatts of capacity when complete, taking the site to 1 gigawatt of capacity [30] - The company is revising its hash rate growth forecast for 2024 and 2025, with a year-end installed hash rate of 35 exahash for 2024, down slightly from prior guidance of 36 exahash [33] - The company is taking a more cautious approach to its 2025 hash rate growth forecast, lowering the year-end exit hash rate forecast from 56 exahash to 46.7 exahash [35] Management Commentary on Operating Environment and Future Outlook - The company is focused on achieving operational excellence, with a goal of greater than 95% average utilization of deployed hash rate, excluding periods of curtailment related to power strategy [45] - The company is leveraging its low-cost power strategy to maintain one of the industry's lowest costs to mine Bitcoin, at $35,376 per Bitcoin in Q3 2024 [41] - The company is actively exploring opportunities to allocate power capacity for AI HPC (High-Performance Computing) if it offers better economics than Bitcoin mining [54] - The company is monitoring industry trends and making decisions that provide the greatest benefit to shareholders while staying focused on the long-term goal of reaching 100 exahash in total self-mining hash rate [43] Other Important Information - The company adopted FASB's final standard on crypto assets in December 2023, recognizing Bitcoin held at fair value, resulting in a mark-to-market upward adjustment of $8.6 million in Q3 2024 [18] - The company expects run rate cash SG&A for Q4 2024 to be in the range of $27 million to $30 million, with elevated litigation expenses anticipated [28] - The company has initiated the full second phase development of the Corsicana Facility, with orders placed for substation equipment and expected completion in 2026 [30] Q&A Session Summary Question: Utilization Rate and Operational Excellence - The company is focused on achieving greater than 95% average utilization of deployed hash rate, excluding periods of curtailment related to power strategy [45] - The company has seen rapid improvements in utilization, from 60%-70% in previous months to over 80% in the most recent month [45] Question: M&A Appetite and Market Opportunities - The company is actively exploring M&A opportunities, particularly in the private mining sector, driven by challenging hash price conditions and the need for fleet upgrades [48] - The company is disciplined in its approach to M&A, focusing on opportunities that align with its strategic goals [49] Question: AI HPC Optionality and Power Allocation - The company is open to allocating power capacity for AI HPC if it offers better economics than Bitcoin mining, with preliminary discussions ongoing [54] - The company has received interest from multiple parties for significant amounts of power capacity, particularly for 2025 [89] Question: ESSMetron and Third-Party Deals - ESSMetron is a small customer of Riot, with most of its capacity utilized for third-party contracts, particularly in data center construction and power generation [58] - The company expects ESSMetron to return to higher-margin contracts in Q1 2025, following the completion of a large government contract [59] Question: Kentucky Expansion Timeline - The company has pushed out some of the expected Kentucky expansion into 2026 and 2027 to maximize power capacity and improve economics [61] Question: SG&A and Litigation Expenses - The company expects elevated litigation expenses in Q4 2024, but these are temporary and not reflective of the run rate of operating the business [66] Question: AI HPC and Counterparty Quality - The company is focused on working with strong, well-capitalized counterparties for any potential AI HPC deals, with a preference for improving capital efficiency [96] Question: M&A Focus and Opportunities - The company is open to both large and small M&A opportunities, with a focus on valuation, operational excellence, and jurisdiction [105] - The company is actively exploring opportunities to supplement its organic growth pipeline [106] Question: Bitcoin Mining vs. Direct Bitcoin Purchase - The company believes that Bitcoin mining allows for averaging in over time, leveraging its low-cost power strategy to mine Bitcoin at a discount to market prices [119]

NASDAQ: RIOT | --- | --- | --- | --- | --- | --- | |---------------------------------|-------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Riot Platforms (NASDAQ: RIOT) | | | | | | Q3 2024 Update October 30, 2024 | | | | | | Forward Looking Statements Statements in this presentation that are not statements of historical fact are forward-looking statements that reflect management's current expectations, assumptions, and estimates of futu ...

Exhibit 99.1 Riot Platforms Reports Third Quarter 2024 Financial Results, Current Operational and Financial Highlights Riot Reports $84.8 million in Total Revenue and Deployed Hash Rate of 28 EH/s CASTLE ROCK, Colo., October 30, 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 September 30, 2024. The accompanying presentation materials are available o ...