All right, everyone. Thank you for joining us today. My name's Jason Les. I'm the CEO of Riot Platforms. This presentation here is a follow-up to the one we held on April 7th, a little over a month ago, when we announced the signing of definitive documentation to acquire Whinstone. We shared yesterday that we have closed that transaction. We're very happy about that, and we want to talk to you about what our company is going to look like going forward. Riot is a publicly traded company. I encourage you to review the forward-looking statement on this slide. A copy of this presentation will be made available on our website, and is currently on file with the SEC on Form 8-K. Riot is a Bitcoin company. We are believers in Bitcoin. We believe Bitcoin is a reinvention of global finance. Riot is a Bitcoin mining company. We are an industry leader in that sector. We have been aggressively growing our operations over the last 18 months. The acquisition of Whinstone is a major step forward in those efforts. We have additional capacity, additional lines of revenue, and the opportunity for even further expansion for our mining business. Riot mines Bitcoin, and it holds Bitcoin. As such, we serve as a vehicle for investors seeking exposure to Bitcoin. Bitcoin started amongst hobbyists in 2009. It was just an experiment. Here, 12 years later, we are at the institutional adoption phase of Bitcoin. Household names in finance, such as BlackRock, Fidelity, Visa, are looking at Bitcoin. They're interested in Bitcoin. Companies like MicroStrategy that do not have a Bitcoin business line are using Bitcoin as a treasury management tool, holding billions of dollars of Bitcoin on their balance sheet. That is the tool that we see Bitcoin as. As this adoption of Bitcoin grows in the United States, we believe that Bitcoin mining presence should also grow alongside that adoption to support the Bitcoin network. Let's talk about what Bitcoin is. Bitcoin is open, free finance. It's censorship-resistant, permissionless money. Bitcoin is the dominant cryptocurrency with a market capitalization of a little over $700 billion. It is decentralized. It is not controlled by any one person, entity, or government, unlike fiat currencies are. It's sound money. It has a supply of only 21 million coins hard-coded into its supply schedule. Also, much unlike fiat currencies. It's an open and transparent system. Bitcoin uses a data structure known as a blockchain to record all the transactions and serve as a public ledger for all users to verify for themselves. All these properties combined make Bitcoin the strongest, most secure, and most decentralized network of all cryptocurrencies. I told you Riot's a Bitcoin miner. Let's talk about what Bitcoin mining is. Bitcoin mining is simply repeatedly guessing inputs into an algorithm until the desired output is observed. Let's walk through the process here. Bitcoin transactions are pooled together into what's known as a block. A miner takes that block and starts this process of repeatedly guessing inputs until a desired output is found, until they get the output to that equation they're looking for. Once they have that output, they can prove to the rest of the network that they did work. They take that block and that proof of work, and they distribute it to the rest of the network who can verify that the transactions on the block itself are valid. Once that block is accepted, it's attached to the prior block, and this is what creates a chain of blocks. In other words, a blockchain. For solving that puzzle, for doing that work, Bitcoin miners get a Bitcoin reward. These blocks come about every 10 minutes on average. The current Bitcoin mining block reward is 6.25 Bitcoin. Combining those numbers here, you can approximate we have about 900 Bitcoin that's up for grabs every day that miners are competing for. Really a fixed amount that the whole network of miners are racing against each other to get the reward. Unless you've been living under a rock lately, you've probably heard a bit about Bitcoin mining and its energy use. I think there's a lot of misconception around this, and there's some important figures here we can talk about. On the graph on the left here, we have the global energy production. One-third of global energy is simply unused. It's wasted. There's surplus. There's no one to buy it. It's congested. It gets lost in transmission. Of that piece of the pie of unused energy, Bitcoin mining is only 0.2 of a percent. Two-tenths of a percent of unused energy out there in the world. It's using this energy for a very important purpose, to create trustless open finance. It's a very important use of energy. Some other figures most people are also not aware of is 76% of Bitcoin miners utilize renewable energy as a part of their energy mix. Renewable energy accounts for approximately 40% of the overall Bitcoin mining energy mix. This is according to the University of Cambridge Centre for Alternative Finance. The reason for all of this, the reason that Bitcoin mining is using so much renewable energy is because Bitcoin miners are incentivized to minimize their power costs. Cost of power is the number one production cost for Bitcoin mining. Bitcoin miners are very incentivized to seek out where this surplus energy is. Basic market forces. You have cheap energy when there is supply far exceeding demand. Typically where you find that is underutilized renewable infrastructure, renewable generation that is generating power and energy that there is otherwise no one to buy in the market. You can think of Bitcoin miners as the buyers of last resort of stranded energy. Riot's mission is to become one of the most relevant and significant companies supporting the Bitcoin network and greater Bitcoin ecosystem. We're not just a Bitcoin mining company, w e're focused on increasing the Bitcoin mining presence in the U.S. On the left here, I have some information about our stock. Riot is traded on Nasdaq under the symbol RIOT. As of the close of the first quarter of 2021, very well-capitalized, net cash position approximately $241 million. At the end of the quarter, we held almost 1,600 Bitcoin on our balance sheet. Our current hash rate capacity is 1.6 exahash. Hash rate is a measurement of a miner's power. It's how many guesses per second a miner can do. The greater your hash rate, the better chance you have of capturing Bitcoin mining rewards. This is an important number that drives if we're comparing Bitcoin miners. We've entered into a number of purchase agreements, and based on those purchase agreements, our hash rate capacity will reach 7.7 exahash by the end of 2022. We are very proud of our quarter one results for 2021. This is a record-breaking quarter for the company. We mined 491 Bitcoin for the quarter and reported a 67.5% mining margin. This drove an overall quarter revenue of $23.2 million. On the bottom line, the most important, $7.5 million in net income. This is the second quarter in a row we've reported net income, and we're very proud of what we've accomplished here. This is a direct result of the efforts Riot management has put into aggressively growing its mining operations, aggressively growing our hash rate capacity, and the appreciation of the Bitcoin price as well. Let's look at how to look at the profitability of Bitcoin mining. There's factors Riot can control, and there's factors Riot cannot control. What Riot can control is our hash rate. We've talked a bit about that. We can control how many miners we purchase. We can purchase a lot of miners, and we can increase our hash rate. We can control our cost of electricity. We have a market-leading cost of electricity with the acquisition of Whinstone. Whinstone has a very competitive power cost. Now, what we can't control is the network hash rate. That is the collection of all the global Bitcoin mining hash rate. You can use that to help estimate, to make a simplest estimation of what a Bitcoin miner's expected production should be. Because Bitcoin mining rewards are fixed, if you take your ratio as a miner to the global network hash rate, that gives you an estimate of what percent of the rewards you are going to capture over any given time period. The network hash rate is currently approximately 160 exahash. It's very volatile. As I shared, Riot's currently at 1.6 exahash. You can think of our mining power as approximately 1% of the network. What we can't control is the price of Bitcoin. It's a very volatile asset that will increase and decrease our U.S. dollar reported revenue. We can't control the price of miners either. That's an important tool to growing your hash rate. The price of miners tends to fluctuate around the price of Bitcoin. When the price of Bitcoin is going up, there's more opportunity in Bitcoin mining, so there's a lot more competition to capture Bitcoin mining hardware. Let's talk about where Riot has been, where Riot is today, and where Riot is going to be going forward. Riot began mining Bitcoin at its inception in late 2017. In early 2018, we began mining Bitcoin at our 12 MW Oklahoma facility, which we operated at until mid-2020. At that time, we made the strategic decision to relocate all of our miners to Coinmint's Bitcoin mining hosting facility in Massena, New York. This was a move to reduce our cost of production and give us a pathway for expansion so we could aggressively order miners and have capacity to deploy them. We currently have about 51 MW deployed at Coinmint. The image down on the left here, you see a major hydroelectric dam, which generates energy in the region. Coinmint draws its energy from approximately 90% hydroelectric power. There's a lot of renewable energy in this region, and this is an example of a relationship with underutilized renewable infrastructure that I was talking about early on. Today, we're announcing the closing of the acquisition of Whinstone. Whinstone is a 300 MW Bitcoin mining hosting facility in Rockdale, Texas. That's what you see pictured down on the right. They currently have three buildings there, housing institutional clients, generating hosting revenue for hosting those clients' miners. We are very excited about this transaction. This is absolutely transformational for the company. Whinstone is a 100-acre site located in Rockdale, Texas. They drive a very competitive power cost of approximately $0.025 / kWh. That cost of power is driven by a long-term power purchase agreement, a mix of real-time power procurement, as well as ancillary services, different grid revenue opportunities. The buildings you saw on the previous slide, that's about 190,000 sq ft of hosting space. This Whinstone facility currently has 300 MW of developed capacity. That makes it the single largest Bitcoin mining facility in North America. Even more exciting, it has the ability to expand. It has a total power capacity of 750 MW. We have another 450 MW we can build out there to increase our Bitcoin mining footprint. Let's talk about where Riot has been and what Riot looks like with the acquisition of Whinstone here. From 2017 to 2020, Riot has been a leading Bitcoin miner with an access to large miner purchases. We have been aggressively growing our Bitcoin mining fleet, and we've been deploying that fleet at Coinmint's Massena, New York facility with relatively low power costs. Now, with the acquisition of Whinstone, Riot becomes the largest publicly traded Bitcoin mining and hosting company, and we create a leading U.S. Bitcoin platform. We have a rapidly scaling self-mining business with one of the world's largest mining facilities and power costs among the lowest in the industry. We have an industry-leading management team, plus a highly talented execution team with over 100 employees. Whinstone employees have built the facility in what it is today in just 18 months. With this acquisition, we have a significantly de-risked path to capital deployment. We have an opportunity to expand. We have a focus on where we will be deploying capital going forward. Whinstone is a part of the ERCOT market. ERCOT stands for the Electric Reliability Council of Texas. ERCOT provides electric service to about 90% of the state. It's unique in that regard. ERCOT is an energy island, it's not connected to the other states. It's one of the few deregulated markets, and it drives very good market conditions, very competitive cost of power through economics, through market forces, and not politicians. On the right here, we have a makeup of what the 2021 generating capacity for ERCOT has been. You can see it's been about 51% natural gas, almost 25% wind, 13.4% coal. I want to highlight how much coal is decreasing in its share of the generating mix just year-over-year. You look at 2020 and coal was almost 18%. We're talking about 4.5% decrease in coal in the generation mix just year-over-year. We're excited about that trend. We see that trend driven by all the potential that Texas has for renewable generation sources. Not only is it high potential from its environment with an abundance of wind and sunlight to generate these sources, it has a market. This ERCOT market makes it an ideal environment to deploy renewable generation. As such, wind and solar has grown to about 1/3 of the total generating capacity in ERCOT. Texas has approximately 25,000 MW of installed wind capacity, which is more than any other state in the nation. It has almost 4,000 MW of utility-scale solar capacity as of January 2021. I think we're seeing with the cost of these generation sources decreasing, combined with the market conditions in ERCOT, strong interconnected grid, open market, we look at these renewable sources continuing to grow. If you look back to the graph here, solar was not even on the map here in 2020. Very small amount. Here in 2021, it's increased to almost 4%. We expect that trend will continue. There's a lot of solar projects in queue in ERCOT, and that is going to further drive the renewable makeup of Texas grid. Here, we have an overview of Riot's Bitcoin mining capacity in the past and going forward. We've talked about Riot has been growing its hash rates. Mining operations has been its fleet of miners located at Coinmint's facility. That's the orange bar here on this graph. Now, in the second quarter of 2021, with the acquisition of Whinstone, we get new capacity. We get capacity from the hosting clients that are in place at Whinstone paying revenue for the opportunity to run miners on that facility. We also can now begin deploying our self-mining hardware at the Whinstone facility. That allows us to capture the synergies of this transaction and take advantage of the decreased cost of production. Going forward, we will keep our miners at Coinmint. We have a great relationship with the Coinmint team, and we want our existing fleet to stay there. With all the miner purchase orders we have in queue, those future orders will be deploying at Whinstone to take advantage of the environment there. We also intend to build out the additional capacity and take the site to its full 750 MW by the end of the fourth quarter of 2020. That's the lighter blue color you see on the bar graph. With its additional capacity, we have optionality. We can enter into more miner purchase agreements. We can deploy more of our self-mining hardware there, or we can sign additional hosting clients and take advantage of the capacity that way. Lots of options on the table from building out Bitcoin mining capacity. We've been talking about hash rate. Hash rate is the measurement of a Bitcoin miner's power. It's how much guesses you're doing. It's what drives your Bitcoin revenue. Riot Management has been very aggressively growing that hash rate since 2019, entering into multiple long-term purchase agreements with the industry-leading hardware manufacturer, Bitmain. As a result, we're receiving thousands of miners on a monthly basis until the end of 2022. These deliveries will take our hash rate to 4.6 exahash by the end of 2021, and eventually 7.7 exahash by 2022. These are two figures that are among the highest you'll see in the Bitcoin mining market. Even if hash rate is a measurement that doesn't make sense to you can see on the graph here, you can visualize the amount of growth underway. We have, starting off this year, just our miners at Coinmint, a strong operation. You can see how much these figures are growing comparatively, what Riot looks like in January 2022 compared to January 2021. Huge increase with all the miners that will be deployed at Whinstone now, eventually reaching deploying capacity of 2022, almost 8 exahash at that point. Substantial growth plans underway. We're believers in Bitcoin, we're trying to capture as much as we possibly can. Here we have some financial highlights for Riot, looking at the past several quarters of financial results. The one I want to key in here on is our hash rate. That's what we've been talking about. In the first quarter of 2021, we've had our record-setting hash rate. You see a substantial increase from the quarter before that, the quarter before that, etc. That's really what's driving the rest of the results you see on this slide. We've had record Bitcoin production in the first quarter of 2021. We're reporting record revenue. You combine the record Bitcoin production with the appreciation of Bitcoin price, and we're very proud of our results from there. That's also been driving an increase in earnings per share. We reported our first GAAP net income quarter in the fourth quarter of 2020, and in the first quarter of 2021, we've grown that figure even farther. We continue to aggressively grow operations. We continue to focus on minimizing our costs, and we're excited about the future financial results that these efforts can bring to the company. To summarize here, Riot is a trailblazing U.S. Bitcoin platform. We have been so focused on growing our Bitcoin mining operations and driving results from doing that. We mine Bitcoin, and we hold Bitcoin. As such, we serve as a vehicle for investors seeking exposure to Bitcoin. With the acquisition of Whinstone, we have new sources of revenue. We have additional capacity that we can utilize to expand our operations even further. This gives us a clear and significantly de-risked path for expansion. Our management team brings a demonstrated track record of success. I've shown you how rapidly Riot has grown its operations and the results that we've seen from them. All combined, we believe Riot provides a best-in-class investment opportunity in the Bitcoin mining vertical. Want to thank everyone for listening to the presentation here. With our limited time remaining, we're going to take just a few questions. We have our Vice President of Capital Markets, Phil McPherson here, who will ask a couple questions that we've had submitted from the chat. Thanks, Jason. First question regarding the newly founded Bitcoin Mining Council. Will you be a member of it, and can you tell us a little about that? The concept of this Bitcoin Mining Council has been talked about recently. The idea here is really simple. We encourage all miners, and you see ourselves in this presentation. Riot discusses its energy mix. That's all that I think the industry here is trying to do. We encourage transparency in Bitcoin mining energy mix. This is a story that's not told enough. If you're not familiar with Bitcoin mining, I'm sure the figures I talked about relative to Bitcoin mining's relationship with renewable energy is probably news to you. We think it's important to tell the story because these misconceptions about Bitcoin hurt it. We are transparent about our energy mix. We encourage others to do the same. I think the more our voices are united in this message, I think the more effective we are at getting this message out. This is something that almost all public Bitcoin miners are doing anyways. We just encourage more miners to discuss their energy makeup as well. It's a positive story. It needs to be told. Let's go to the next one, Phil. Great. Question on the volatility of Bitcoin's price and how it affects Riot's revenue. Yeah. Absolutely, the price of Bitcoin is a major driver in our revenue. It kind of has two effects. One, we're mining Bitcoin, so the spot price of Bitcoin is going to affect the price of the thing we're mining intuitively. It has another effect, though. That increase and decrease in mining margins drives the network hash rate that we talked about earlier. It contributes to what the overall Bitcoin mining network competition looks like. The higher the price is, the higher the Bitcoin mining margins are. There are more people trying to participate to capture some of those rewards. When the Bitcoin price goes up a lot, you tend to see the network hash rate increasing as well. What's been an interesting, I don't want to call it phenomenon, but interesting thing to observe this year is while the Bitcoin price has gone up a lot, the network hash rate has not grown up a lot. I mean, it has not grown up proportionally similar because there's a shortage of Bitcoin mining hardware. All industries are facing a crunch in supply chains, and Riot had the foresight to order and enter into purchase agreements for a lot of Bitcoin mining hardware. When the market wasn't so hot in 2020, Riot was very aggressively entering into new purchase agreements with Bitmain to receive miners years, months out. We believed in the future opportunity within Bitcoin mining, and we wanted to position ourselves. When the market wasn't exciting, we were aggressively growing our mining fleet, deploying capital for miners that we would not receive for many months in the future. Because of that, we have been well-positioned to capture the opportunity in Bitcoin mining right now, whereas it's very difficult or otherwise expensive for new participants to gain the same amount of power that Riot has, just given where the market is at. That competition in Bitcoin mining is something that the volatility of the price of Bitcoin drives, as well as just affecting the price of the thing we mine, and that's Bitcoin. Great. I think we have time for one more, and it's been asked in a couple different ways, but going forward, what's kind of our preference for hosting new clients versus deploying our own machines at the Whinstone facility? I think that's something that we're going to continue to look at and evaluate. Hosting is great. It's a diversified source of revenue. It's still within Bitcoin mining, so still very much exposed to Bitcoin, which we think is a good thing, but it's revenue that we generate from not having to purchase our own mining hardware. In that regard, hosting is a very interesting tool to generate a return on invested capital. It also helps us drive revenue to cover other expenses, as we're interested in accumulating Bitcoin, and the more we can generate revenue sources elsewhere and not have to sell our Bitcoin to pay production costs, the better. I can't say for sure a preference one way or the other, but these are two areas of the industry that we are going to be very focused on, self-mining and hosting. We will have more updates to share as we evaluate that and we further refine what our strategy is going to be. Great, thank you. Thank you, Phil. Once again, thank you so much, everyone, for joining us today. As you can tell, we are very, very excited about this acquisition. We're very excited about having Whinstone under the Riot umbrella, and we believe there's a lot of opportunity in what our companies are going to be able to accomplish combined. Once again, thank you for joining. A copy of this presentation will be made available on our website, and it's already on file with the SEC on Form 8-K. We look forward to talking again. Thank you, everyone.