secwatch.observer — SEC 8-K summary
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Issuer:     Riot Platforms, Inc. (RIOT)
CIK:        0001167419
Form:       8-K
Filed at:   2023-09-06T23:59:59+00:00
Accession:  0001558370-23-015517
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Riot Platforms reports 333 BTC mined in August; record $31.7M power credits
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- Produced 333 Bitcoin in August 2023; power and demand response credits hit record $31.7M, surpassing full-year 2022 total.
- Power credits equated to ~1,136 BTC at average August price, significantly lowering cost to mine.
- Self-mining hash rate target of 12.5 EH/s at Rockdale by end of 2023; 20.1 EH/s at Corsicana by mid-2024.
- Shareholder class action dismissed with prejudice by New Jersey District Court on August 25, 2023.
- Curtailed power usage >95% during Texas heat wave, supporting ERCOT grid stability.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1167419/000155837023015517/0001558370-23-015517-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1167419/000155837023015517/riot-20230906x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-015517

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