NASDAQ$RIOT
Riot Platforms Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Riot reported record results driven by higher Bitcoin production and prices, alongside power credits.
Riot Platforms reported record full-year 2023 results, including $280.7 million in total revenue, 6,626 Bitcoin produced, and a hash rate capacity of 12.4 EH/s. The company also earned $71.2 million in power credits and maintained a strong financial position with $597.2 million in cash on hand.
- Total revenue reached $280.7 million, driven by increased Bitcoin production and higher Bitcoin prices.
- The company earned $71.2 million in power credits through support of the ERCOT grid.
- Riot produced 6,626 Bitcoin, a 19% increase compared to 2022.
- Hash rate capacity increased by 28% to 12.4 EH/s.
Headline financials
Revenue & EPS history
Riot · Revenue · Quarterly
$78.8M
Revenue by segment
Riot · $46.7M total across 2 segments · Q3 2023
- Bitcoin Mining$31.2M+41.2%66.8%
- Engineering$15.5M-1.9%33.2%
Forward guidance
Riot plans to energize the first building at its new Corsicana Facility at the end of Q1 2024 and expects its self-mining hash rate to grow to over 28 EH/s by the end of 2024 and over 38 EH/s by the end of 2025.
Tailwinds
- Riot plans to energize the first building (Building A1) at its new Corsicana Facility at the end of Q1 2024.
- Miners will be brought online in batches over the first several weeks of April 2024.
- Building A2 is expected to be completed and brought online towards the end of Q2 2024.
- Buildings B1 & B2 being brought online during the third and fourth quarters of 2024.
- At this pace, Riot’s self-mining hash rate is expected to grow from 12.4 EH/s to over 28 EH/s by the end of 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-1.5%
Avg return
Earnings day
-1.2%
Avg return
5 days after
+9.1%
Avg return
30 days after
35%
14 / 40 earnings
Positive
+37.3%
Q4 2018
Best reaction
-20.3%
Q2 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +7.9% | +27.3% | +69.6% | |
| Q4 2025 | -4.3% | -13.8% | -21.7% | |
| Q3 2025 | -5.6% | -10.1% | -23.5% | |
| Q1 2025 | +7.8% | +0.9% | +3.9% | |
| Q4 2024 | -6.7% | -7.1% | -22.2% | |
| Q3 2024 | -15.0% | -17.4% | +16.4% | |
| Q2 2024 | -10.1% | -19.9% | -27.4% | |
| Q1 2024 | +1.9% | +6.5% | -3.7% | |
| Q4 2023 | -1.7% | +11.3% | -24.5% | |
| Q3 2023 | -6.6% | -5.9% | +35.1% | |
| Q2 2023 | -12.2% | -14.2% | -35.9% | |
| Q1 2023 | -6.4% | -3.1% | -9.7% | |
| Q4 2022 | +3.3% | +0.5% | +62.7% | |
| Q3 2022 | -7.9% | -7.8% | -27.1% | |
| Q2 2022 | -7.7% | -27.0% | -23.9% | |
| Q1 2022 | -10.8% | +3.9% | -28.7% | |
| Q4 2021 | +23.6% | +31.6% | +0.4% | |
| Q3 2021 | -16.5% | -18.1% | -41.5% | |
| Q2 2021 | +9.6% | +12.4% | -16.3% | |
| Q1 2021 | -1.8% | -12.2% | +31.4% | |
| Q4 2020 | +1.0% | -10.1% | -46.6% | |
| Q3 2020 | -5.5% | +9.0% | +142.5% | |
| Q2 2020 | -4.0% | +0.3% | -21.8% | |
| Q1 2020 | -13.5% | +12.4% | +67.6% | |
| Q4 2019 | +2.3% | -0.8% | +56.6% | |
| Q3 2019 | -1.3% | -1.3% | -13.7% | |
| Q2 2019 | +2.8% | -6.6% | -3.8% | |
| Q1 2019 | +22.6% | +24.2% | -25.6% | |
| Q4 2018 | +37.3% | +26.0% | +25.4% | |
| Q3 2018 | -15.5% | -15.5% | -13.7% | |
| Q2 2018 | -20.3% | -20.0% | -43.4% | |
| Q1 2018 | +5.9% | -7.6% | -12.9% | |
| Q4 2017 | -6.0% | -9.0% | +30.1% | |
| Q3 2017 | -2.0% | +13.5% | +221.6% | |
| Q2 2017 | -1.3% | -3.2% | +5.3% | |
| Q1 2017 | -3.3% | +0.3% | +8.6% | |
| Q4 2016 | -2.0% | -3.5% | -7.6% | |
| Q3 2016 | +0.4% | +5.6% | +46.4% | |
| Q2 2016 | +4.1% | +1.3% | +24.7% | |
| Q1 2016 | -3.2% | — | — | |
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