Page 1

November 15 , 2021 RIOT Riot Blockchain Reports Record Third Quarter 2021 Financial Results , Current Operational and Financial Highlights CASTLE ROCK , Colo . , Nov. 15 , 2021 ( GLOBE NEWSWIRE ) - Riot Blockchain , Inc. ( NASDAQ : RIOT ) ( " Riot , " " Riot Blockchain " or " the Company " ) , an industry leader in Bitcoin ( " BTC " ) mining and hosting , reported financial results for the three month period ended September 30 , 2021. The unaudited financial statements are available on Riot's website and here . " We are extremely pleased to report another quarter of record financial results , ” said Jason Les , CEO of Riot . " These results demonstrate the continuous financial and operational improvements that management is focused on delivering for shareholders . Riot's technology focused , vertically integrated strategy significantly de - risks the Company's future growth plans . Additionally , it enhances future capital efficiencies as technological improvements , such as industrial - scale immersion technologies , are systematically incorporated into future hash rate deployments . With these strengths of Riot at play , the future financial opportunities for the Company are exciting . " Third Quarter 2021 and Recent Financial Highlights Riot continues to attain significant milestones and position itself for future opportunities , driven by its focus on Bitcoin mining . • Increased total revenue by 2,532 % to a record $ 64.8 million for the three - month period ended September 30 , 2021 , as compared to $ 2.5 million for the same three - month period in 2020 . • Increased mining revenue by 2,099 % to a record $ 53.6 million for the three - month period ended September 30 , 2021 , as compared to $ 2.4 million for the same three month period in 2020 . • Increased mining revenue margin , computed as cryptocurrency mining net of cost of revenues of cryptocurrency mining ( exclusive of depreciation and amortization ) , to 76 % for the three - month period ended September 30 , 2021 , as compared to 47 % for the same three - month period in 2020 . • Increased mining revenue margin by 6 % on a sequential quarter - over - quarter basis to 76 % for the third quarter of 2021 , as compared to 70 % in the second quarter of 2021 . • Increased BTC production by 482 % to a record 1,292 Bitcoin during the three - month period ended September 30 , 2021 , as compared to 222 Bitcoin during the same three month period in 2020 .