Riot Q2 revenue $76.7M, net loss narrows to $27.7M; new $750M ATM facility and 7.6 EH/s miner purchase

Riot Platforms, Inc.

2023-Q2 EPS reported -$0.35 revenue$149,975,000

Total revenue $76.7M (+5% YoY); Bitcoin production 1,775 (+27% YoY); net loss $(27.7)M vs $(353.6)M prior year.
Average cost to mine Bitcoin $8,389 vs $11,316 YoY; mining revenue $49.7M; power curtailment credits $13.5M.
Record self-mining hash rate 10.7 EH/s; expects 12.5 EH/s in Q4 2023 and 20.1 EH/s by mid-2024 with MicroBT miners.
New $750M at-the-market equity facility with multiple agents; prior $500M ATM fully utilized ($184.7M net in H1 2023).
Signed long-term purchase with MicroBT for 33,280 miners (7.6 EH/s); option for another 66,560 miners (15.3 EH/s).

item 1.01 item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Riot Platforms, Inc. reported the three-month period ended June 30, 2023 results: revenue $76.7 million.

Period: the three-month period ended June 30, 2023
Revenue: $76.7 million
Result: reported results

Exact text from the filing

as Exhibit 99.1 hereto. --- EX-99.1 (EX-99.1) --- RIOT Platforms REPORTS SECOND QUARTER 2023 FINANCIAL RESULTS, CURRENT OPERATIONAL AND FINANCIAL HIGHLIGHTS Riot Reports $76.7 Million in Total Revenue, New All-Time Record Hash Rate Capacity of 10.7 EH/s, and Expanded Execution of Power Strategy CASTLE ROCK, Colo., August 9, 2023 (GLOBE NEWSWIRE) -- Riot

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

Riot Platforms, Inc. entered into Controlled Equity Offering SM Sales Agreement with Cantor Fitzgerald & Co., B. Riley Securities, Inc., BTIG, LLC, Roth Capital Partners, LLC, Compass Point Research & Trading, LLC, Northland Securities, Inc., Moelis & Company LLC, and Stifel Nicolaus Canada Inc. valued at up to $750,000,000 in common stock (effective 2023-08-09).

Action: entry
Agreement: atm program
Counterparty: Cantor Fitzgerald & Co., B. Riley Securities, Inc., BTIG, LLC, Roth Capital Partners, LLC, Compass Point Research & Trading, LLC, Northland Securities, Inc., Moelis & Company LLC, and Stifel Nicolaus Canada Inc.
Value: up to $750,000,000 in common stock
Effective: 2023-08-09

Exact text from the filing

Riot Platforms, Inc. (“ Riot ”, the “ Company ”, “ we ”, “ us ”, “ our ”, etc.) entered into a Controlled Equity Offering SM Sales Agreement, dated as of August 9, 2023 (the “ Sales Agreement ”), with Cantor Fitzgerald & Co., B. Riley Securities, Inc., BTIG, LLC, Roth Capital Partners, LLC, Compass Point Research & Trading, LLC, Northland Securities, Inc., Moelis & Company LLC, and Stifel Nicolaus Canada Inc.

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

Riot Platforms, Inc. filing history →

Source: SEC EDGAR

accession 0001167419-23-000021

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