Bitmain Signs $17.7 million Antminer S19 Pro Deal with Nasdaq-Listed Riot Blockchain

Singapore, Aug. 24, 2020 – Bitmain – the world’s leading producer of cryptocurrency mining hardware continues its partnership with one of the few Nasdaq-listed cryptocurrency mining companies – Riot Blockchain (“Riot”, “Riot Blockchain” or the “Company”) by executing another purchase agreement of 8,000 next generation Bitmain Antminer S19 Pros. The Antminer S19 Pro is another hot-selling miner launched by Bitmain earlier this year, featuring a hash rate of 110 TH/s, with a power efficiency of 29.5±%5 J/TH. This new $17.7 million contract with Riot marks another global milestone of Bitmain’s Antminer S19 Pros.

“We are glad to continue and
expand our cooperation with Riot. Riot is a long-term friend of ours, and we
have witnessed and assisted them building up a powerful mining operation in
North America. Equipped with the most advanced chipset currently available, our
Antminer S19 Pro redefined the industry standard of hash rate with an
outstanding power efficiency. We believe this new purchase help will Riot expand
a leading position in the market and fulfill their business vision, which we
are more than happy to be and continue being part of.” said Irene Gao, Antminer
Sales Director of NCSA Region, Bitmain.

This purchase agreement has a
defined delivery schedule of 2,000 S19 Pros per month starting in January 2021
and continuing through April 2021 until the order is complete.

“Riot Blockchain deeply values the relationship developed with Bitmain over the years. We are focused on building our mining operation with the most efficient hardware on the market, therefore the S19 Pro has been the leading choice during this growth period. Riot set the ambitious hash rate goal of 1 EH/s by early 2021, even though sourcing hardware can be exceptionally challenging during the current pandemic and in this economic climate. Bitmain provided us with exceptional service in a path towards achieving our goal and because…

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