CASTLE ROCK, Colo., Feb. 11, 2020 /PRNewswire/ — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot” or the “Company”), has received an additional 1,060 S17 Pro Antminers from BitmainTech PTE. LTD. (“Bitmain”) at the Oklahoma City mining facility. Riot is currently deploying the new S17 Pro generation miners and expects to complete the final installation in the next seven business days.
Upon full deployment, Riot estimates the aggregate operating hashrate at the Oklahoma City mining facility, assuming full utilization of the facility’s current total 12 megawatt (“MW”) available electric supply to be approximately 248 petahash per second. This would represent an estimated 240% increase over Riot’s late 2019 average mining hashrate. Riot anticipates that total deployment of the 4,000 S17 Pro new miners will represent approximately 90% of the Oklahoma City’s mining facility’s total current power capacity.
Riot is aware that public sources have reported that the outbreak of the coronavirus in China has directly affected the Chinese mining industry including manufacturers and mining farms. Additionally, certain major ASIC miner manufacturers have issued statements regarding the work bans and the impacts on their meeting market demands for mining rigs. The Chinese government-issued work bans are being extended and some mining manufacturers are notifying customers that shipping delays may occur. Riot notes due to the timing of its orders, there was no impact or delay on the upgrade of the OKC mining facility.
About Riot BlockchainRiot Blockchain is focused on building, operating, and supporting blockchain technologies. Its primary operations consist of cryptocurrency mining, targeted development of a cryptocurrency exchange, and the identification and support of innovations within the sector. For more information, visit http://www.RiotBlockchain.com/.
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