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

The publicly listed company Riot Blockchain has announced the purchase of 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 hashrate of the operation to 3.8 exahash per second (EH / s).

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

Riot expects next generation miners to be deployed between May and October 2021.

Riot predicts that the mining rigs will greatly increase the company’s current 2.3EH / s of hashrate. The company also notes that, to the best of its ability, the business will manage a total aggregate of 37,640 bitcoin miners.

“Riot estimates its total operational hash rate capacity to be 3.8EH / s and consumes about 120MW of energy,” Riot detailed on Monday. “As a result, [Riot] expects an aggregate mining efficiency of 31.79 ±% 5 joule 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 the Coinmint LLP facility, Massena, New York.

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

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

According to the company, all the miners bought are made with working capital, and Riot claims they have no long-term debt. Riot’s latest purchase is among the many major mining rig purchases in 2020, where institutional buyers such as Terror, Scientific Core, Marathon, and others have ruled the roost.

This trend has called a number of bitcoin mining rig models to sell out very quickly and push retail buyers into secondary markets. For example, the Bitmain store currently has next-gen Antminer devices for sale, but people have to settle for a “future order.”

Following the purchase of Riot Blockchain from 15k miners, Irene Gao, NCSA’s Bitmain Region Antminer Sales Director, detailed that the Antminer 19 series “enjoys widespread popularity in the global markets.”

What do you think about Riot Blockchain buying 15,000 Antminers from Bitmain? Let us know what you think of this topic in the comments section below.

Tags in this story

15000 Antminers, Antminer Series, Bitcoin Miners, Core Scientific, Irene Gao, Jeff McGonegal, Marathon, Massena New York facility, Miner Purchase, mining, bitcoin mining, Terror, Riot Blockchain, S19, S19 Pro, S19j Pro Antminer, Mining Campaign UD

Image Credits: Shutterstock, Pixabay, Wiki Commons, Riot Blockchain,

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