secwatch.observer — SEC 8-K summary
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Issuer:     Riot Platforms, Inc. (RIOT)
CIK:        0001167419
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0001167419-23-000021
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1167419/000116741923000021/0001167419-23-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1167419/000116741923000021/riot-20230809x8k.htm
  HTML page:      https://secwatch.observer/filing/0001167419-23-000021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer