| Market Capitalization (Millions $) |
4,010 |
| Shares
Outstanding (Millions) |
330 |
| Employees |
431 |
| Revenues (TTM) (Millions $) |
459 |
| Net Income (TTM) (Millions $) |
-399 |
| Cash Flow (TTM) (Millions $) |
-451 |
| Capital Exp. (TTM) (Millions $) |
220 |
Riot Platforms Inc
We are a vertically integrated Bitcoin mining firm that is primarily focused on improving our mining skills. At our Bitcoin mining facility in Rockdale, Texas, we also supply the necessary mining infrastructure for our institutional size clients to mine Bitcoin. Our Whinstone operation is thought to be the largest Bitcoin mining facility in North America in terms of developed capacity.
We operate in an environment which is consistently evolving based on the proliferation of Bitcoin and cryptocurrencies in general. A significant component of our strategy is to effectively and efficiently allocate capital between opportunities that we believe will generate the highest return on our capital.
Our Mining operations are focused on maximizing our ability to successfully mine Bitcoin by growing our hash rate (the amount of computer power we devote to supporting the Bitcoin blockchain) to increase our chances of successfully verifying transactions to be recorded in the decentralized digital ledger comprising the Bitcoin blockchain. Generally, the greater share of the Bitcoin blockchain's total network hash rate (the aggregate hash rate deployed to solving a block on the Bitcoin blockchain) represented by a miner's hash rate, the greater the miner's chances of earning Bitcoin rewards. As additional miner operators have entered the market in response to increased demand for Bitcoin, the Bitcoin blockchain's network hash rate has grown. We expect this trend to continue, so we expect to need to continue to grow our hash rate to compete in our dynamic and highly competitive industry.
A mining pool is a service operated by a mining pool operator that pools the resources of individual miners to share their processing power over a network and split rewards according to the amount of hash rate they contributed to the probability of placing a block on the blockchain. Mining pools emerged in response to the growing difficulty and network hash rate competing for Bitcoin rewards on the Bitcoin blockchain, as a way of lowering costs and de-risking an individual miner's mining activities.
The mining pool operator provides a service that coordinates the computing power of the independent mining enterprises participating in the mining pool. The pool uses software that coordinates the pool members' hash rate, identifies new block rewards, records how much work all the participants are doing, and assigns Bitcoin rewards to its participants in proportion to the hash rate each participant contributed to the successful mining transaction. Fees are paid to the mining pool operator to cover the costs of maintaining the pool and are deducted from amounts we may otherwise earn. Fees (and payouts) fluctuate and historically have been no more than approximately 2% per reward earned, on average. Mining pools are subject to various risks such as disruption and down time. In the event that a pool experiences down time or is not yielding returns, our results may be impacted.
Company Address: 3855 Ambrosia Street Castle Rock 80109 CO
Company Phone Number: 794-2000 Stock Exchange / Ticker: NASDAQ RIOT
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