Riot Blockchain Buys 15,000 Antminers, Operation Will Command 37,640 Bitcoin Miners

Publicly listed firm Riot Blockchain has announced the company is purchasing 15,000 S19 Pro and S19j Pro Antminer mining rigs from Bitmain. According to the company, the new shipment of next-generation miners will increase the operation’s hashrate to 3.8 exahash per second (EH/s).

Following the announcement from Core Scientific this week purchasing over 58,000 Antminer series ASIC bitcoin miners from Bitmain, Riot Blockchain, Inc. (NASDAQ: RIOT) revealed it has purchased 15,000 new miners. The company says that it will obtain approximately 3,000 S19 Pro Antminers (110TH/s) and 12,000 S19j Pro Antminers (100 TH/s).

Riot expects the next-generation miners to be deployed between May through October 2021.

Riot anticipates the mining rigs will increase the company’s current 2.3EH/s of hashrate a great deal. The company also notes that at full capacity, the business will command an aggregate total of 37,640 bitcoin miners.

“Riot estimates its total operational hash rate capacity will be 3.8EH/s and consume approximately 120MW of energy,” Riot detailed on Monday. “As a result, [Riot] expects to have an aggregate mining efficiency of 31.79±% 5 joules per terahash (J/TH).”

Riot Blockchain Buys 15,000 Antminers, Operation Commands 37,640 Bitcoin Miners
Riot’s dedicated bitcoin mining operations are currently located at Coinmint LLP’s Massena, New York facility.

Jeff McGonegal, CEO of Riot said that the “continued growth in deployed miners is paramount to a miner’s success.”

“Expanding the Company’s bitcoin mining hash rate and operating on a cost-effective basis is very important, particularly during periods when the bitcoin spot price has appreciably increased,” McGonegal detailed. “We are pleased to have secured this latest purchase, especially given that the available supply of mining hardware continues to become increasingly scarce.”

According to the company all the miners purchased are done with working capital, and Riot claims to have no long-term debt. Riot’s latest purchase…

Read More