What Are The Production Updates Of Riot Blockchain Issues In February 2020?

Riot Blockchain (NASDAQ: RIOT) is specialized in cryptocurrency mining with a focus on bitcoin. Riot is also holding non-controlling investments in blockchain technology companies. Riot is headquartered in Castle Rock, Colorado, and this Company’s mining facility is located in Oklahoma City. Riot Blockchain, Inc. (NASDAQ: RIOT)  is one of the few Nasdaq listed public cryptocurrency mining companies in the United States, Nyse bll stock news at https://www.webull.com/quote/nyse-bll company has issued a production update for February 2020.

Production Updates Of Riot Blockchain

  • During February 2020, the Company produced 91 newly mined bitcoins (BTC). At the beginning of the month, Riot’s mining facility consisted of 2,940 Bitmain S17s and 1,751 S9s.
  • By the end of the month, the Company had completed its previously announced upgrades to its mining network, and, as a result, was running 4,000 S17s and no longer operating S9s.
  • These enhancements have resulted in a 147% increase in the average daily run rate of bitcoins mined, as compared to the average daily production run rate for December 2019. Future changes in network-wide difficulty rate or hash rate will impact Riot’s production of BTC.
  • As previously announced, the Company intends to release the monthly unaudited production from its mining operation through May 2020 and then re-evaluate how best to continue keeping its shareholders apprised.  

Safe Harbor

  • The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. These statements are risking and uncertainties that actual results may be differing materially from those expressed or implied by such forward-looking statements.
  • These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events are varying materially from anticipated in such forward-looking statements as a result of various risks and uncertainties.
  • Detailed information regarding factors is caused actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company. It may be found in the Company’s periodic filings with the Securities and Exchange Commission.
  • These are including the factors described in the sections entitled Risk Factors, copies of which may be obtained from the SEC’s website at the official webpage. This company is not undertaking any obligation to update forward-looking statements contained in this press release. You can check other stock news like Nyse psx at https://www.webull.com/quote/nyse-psx .

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