Kentucky Facilities

Two operational sites, both in Kentucky, totaling 60 MW of operational capacity

Riot Platforms is pleased to announce that it has acquired Block Mining, Inc. (“Block Mining”), a Kentucky-based vertically integrated Bitcoin miner.

Acquisition adds 60 Megawatts (“MW”) of current operational capacity with the potential to quickly expand to 110 MW under existing agreements in 2024, and a pipeline to build to over 300 MW in Kentucky.

Development	2021 Development Start 2025+ Ongoing Development
Power Capacity	Capacity Developed 60 MW Contracted Capacity 110 MW Potential Capacity 300 MW
Infrastructure Type	60 MW of Air-cooling
Kentucky Hash Rate	2.9 EH/s as of February 28, 2025
Full-Time Employees	13 Local Employees

Riot Announces the Acquisition of Block Mining - Expands Riot’s Total Potential Power Capacity to 2 Gigawatts

Block Mining is a vertically integrated Bitcoin miner consisting of two operational sites, both in Kentucky, totaling 60 MW of operational capacity with potential to expand up to 155 MW. Of the existing and operational 60 MW, 23 MW are currently being used for self-mining, 19 MW are vacant and available for immediate miner deployment, and 18 MW are contracted by Bitcoin mining tenants under hosting agreements. Approximately 8 MW of the 18 MW of contracted hosting agreements have change of control provisions and will be available for self-mining by Riot in 60-90 days. Riot intends to further expand Block Mining’s two sites, targeting 110 MW for self-mining operations by the end of 2024. Additionally, Block Mining owns a greenfield expansion opportunity also in Kentucky, adjacent to an existing substation, presenting an opportunity to develop 60 MW and with potential to expand to 150 MW.

The acquisition of Block Mining immediately increases Riot’s hash rate, expands Riot’s footprint geographically, and provides exposure to additional energy markets outside of ERCOT. Block Mining’s sites are serviced by various power companies including Tennessee Valley Authority (TVA) and Big Rivers Electric Corporation in the Midcontinent Independent System Operator (“MISO”) region. MISO facilitates one of the world’s largest energy markets and offers four demand response programs allowing users to employ a sophisticated power strategy. Block Mining can expand its operating capacity up to 110 MW under existing agreements and has identified a pipeline that could bring operations in Kentucky to an aggregate of over 300 MW across three sites, subject to executing requisite PPAs. Investor Presentation for Block Mining can be found here.