Riot Blockchain Enters Co-location Mining Contract with Coinmint

Relationship anticipated to cut back direct mining manufacturing prices, maximize hash charge, and supply growth alternatives for Riot

CASTLE ROCK, Colo., April 14, 2020 /PRNewswire/ — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot” or the “Firm”), one of many few Nasdaq listed public cryptocurrency mining corporations in the US, has executed a co-location mining companies contract with Coinmint, LLC (“Coinmint”), operator of one of many largest digital forex knowledge facilities in North America.

Riot Blockchain Logo (PRNewsfoto/Riot Blockchain, Inc.)

Riot believes the internet hosting association can positively influence its energy prices, the Oklahoma Metropolis facility’s warmth and environmental working points, and supply a path to diversify its mining operations. The Coinmint facility not solely presents a cheap resolution to Riot’s mining wants but in addition permits Riot to doubtlessly broaden its complete hashing capability.

As a part of verifying this technique, the Firm will relocate a portion of its lately bought Bitmain Antminer S17s to Coinmint’s Massena, New York facility for preliminary operational, safety, and reporting controls testing and verification. The Firm has assessed the dangers of this transition, together with exposures and potential points associated to the novel coronavirus (COVID-19), and believes the dangers are moderately mitigated as a result of “plug and play” infrastructure of Coinmint’s amenities.

COVID-19 Pandemic Replace: Per the March 2020 Manufacturing Replace press launch issued on April 2, 2020, Riot is constant to watch COVID-19 and its potential influence on the Firm’s workforce, operations, finance and liquidity. Up to now, the influence has remained minimal.

About Coinmint, LLC
Coinmint operates a digital forex knowledge heart in a former Alcoa Aluminum smelter in Massena, New York. At 435MW of transformer capability at its Massena complicated, the power’s capability is thrice bigger than every other identified working digital forex knowledge heart. The ability has been operational since Could 2018. Given the abundance of hydroelectric and wind technology within the space, the expertise of its administration group in wholesale electrical energy markets, and the big capability, Coinmint has a fabric electrical financial benefit. For extra info, go to www.coinmint.one.

About XMS Capital Companions
XMS Capital Companions, LLC (“XMS”) assisted the Firm in figuring out this chance as a part of XMS’s engagement with Riot. XMS, headquartered in Chicago, is an unbiased international monetary companies agency with experience in M&A and strategic advisory. XMS is helping Riot navigate the dynamic bitcoin panorama and advise the Firm on potential strategic transactions in bitcoin mining associated operations. For extra info, go to www.xmscapital.com.

About Riot Blockchain
Riot Blockchain (NASDAQ: RIOT) makes a speciality of cryptocurrency mining with a give attention to bitcoin. Riot additionally holds non-controlling investments in blockchain know-how corporations. Riot is headquartered in Citadel Rock, Colorado, and the Firm’s mining facility is situated in Oklahoma Metropolis, Oklahoma. For extra info, go to www.RiotBlockchain.com.

Protected Harbor
The data supplied on this press launch might embrace forward-looking statements referring to future occasions or the long run monetary efficiency of the Firm. As a result of such statements are topic to dangers and uncertainties, precise outcomes might differ materially from these expressed or implied by such forward-looking statements. Phrases comparable to “anticipates,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and comparable expressions are meant to determine forward-looking statements. These forward-looking statements are primarily based upon present expectations of the Firm and contain assumptions that will by no means materialize or might show to be incorrect. Precise outcomes and the timing of occasions might differ materially from these anticipated in such forward-looking statements because of varied dangers and uncertainties. Detailed info relating to elements that will trigger precise outcomes to vary materially from the outcomes expressed or implied by statements on this press launch referring to the Firm could also be discovered within the Firm’s periodic filings with the Securities and Trade Fee, together with the elements described within the sections entitled “Threat Elements,” copies of which can be obtained from the SEC’s web site at www.sec.gov. The Firm doesn’t undertake any obligation to replace forward-looking statements contained on this press launch.