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Organization and Operation of Our Business
3 Months Ended
Mar. 31, 2023
Accounting Policies [Abstract]  
Organization and Operation of Our Business

Note 1. Organization and Operation of Our Business

Nature of Operations

Riot is a vertically integrated Bitcoin mining company principally engaged in enhancing our capabilities to mine Bitcoin in support of the Bitcoin blockchain. The Company also provides comprehensive and critical infrastructure for institutional-scale hosted clients to mine Bitcoin at its Bitcoin mining facility in Rockdale, Texas (the “Rockdale Facility”). The Rockdale Facility currently has 700 megawatts (“MW”) in total developed capacity for Bitcoin mining and data center hosting services for institutional-scale hosted clients. The Rockdale Facility is believed to be the largest Bitcoin mining facility in North America, as measured by developed capacity, and the Company is currently evaluating further growing its capacity. The Company is also developing a second large-scale Bitcoin mining and data center facility located outside of Corsicana, Texas (the “Corsicana Facility”), which, upon completion, is expected to have approximately one gigawatt of capacity available for Bitcoin mining and data center hosting services for institutional-scale hosted clients.

As described in Note 19. Segment Information, we operate in three business segments: Bitcoin Mining, Data Center Hosting, and Engineering.