Brian Beaden's questions to Riot Platforms Inc (RIOT) leadership • Q3 2024
Question
Brian Beaden asked what specific conditions Riot would need to see to enter the HPC market, such as Bitcoin cycle dynamics or a specific type of customer. He also inquired about the current lead times for long-lead electrical equipment.
Answer
CEO Jason Les stated that entering the HPC market would depend on securing a deal with a strong, blue-chip counterparty that offers superior economics to Bitcoin mining, particularly regarding upfront capital efficiency. For long-lead items like large substations, he noted that lead times can be 18-24 months, but Riot has already placed orders for its Phase II development, expecting delivery in under a year.