Financial PerformanceRiot officially raised its 2024 and 2025 outlook and reported 2Q24 top line results that exceeded estimates on stronger Engineering revenues.
Growth And ExpansionThe acquisition of Block Mining adds 1 EH/s, two sites, and 60 MWs to RIOT’s portfolio, with expectations for existing site expansions and a new greenfield development site to add an aggregate 15.8 EH/s and 305 MW over the coming years.
Operational EfficiencyImprovements at both Texas sites from new miners, immersion systems, and cooling have led to notable uptime enhancements, with additional improvements expected.