As per the press release, Riot will start receiving S19j Antminers this year already.
Public-listed mining firm Riot Blockchain is all set for a massive boost to its Antminers collection. On Wednesday, April 7, Riot Blockchain announced placing a massive purchase of 42,000 S19j Antminers for USD $138.5 million from Bitmain. Thus, it will bring the total Antiminers deployed by Riot Blockchain to 81,150.
The new Antimner arsenal will increase Riot’s hashrate by 93%. Currently, under full deployment, Riot’s Bitcoin mining hashrate stands somewhere at 7.7 exahash per second (EH/s). However, the deployment of the newly purchased machines will bump it up further.
Riot Blockchain COO Megan Brooks said that the latest purchase will put her company and the US. At the center of the Bitcoin mining industry. Brooks further added:
“This long-term purchase order marks a major milestone in the continued expansion of Riot’s mining operations. Riot’s existing fleet of miners has already positioned the Company as an American leader in Bitcoin mining. By nearly doubling its planned hash rate capacity, Riot continues to take great strides forward in growing both the Company’s and the United States’ share of the global network hash rate. We are proud of this accomplishment and remain focused on continuing to evaluate additional opportunities in the space.”
Riot Boosting the Bitcoin Mining Arsenal with Antminers
As per the press release, Riot will start receiving S19j Antminers ahead of this year. Starting November 2021, Riot will start receiving a minimum of 3500 units every month up to October 2022. Riot is already receiving its monthly shipments for its previous order up to October 2021.
Upon complete deployment, Riot will have a total of 81,150 Antminers, 95% of which will be the latest S19 models. The S19j also consumes around 3,100 watts of energy and operates at 90 TH/s. With complete deployment, Riot’s total fleet will consume around 257.6 megawatts (MW) of energy while the hashrate efficiency surges to around 33 joules per terahash (J/TH). This will help Riot to become one of the most efficient Bitcoin mining players in the industry. Speaking about the development, Irene Gao, Antminer Sales Director of NCSA Region, Bitmain said:
“We are excited for our long-term cooperation with Riot as they continue to solidify their growth and position as one of the global leading companies in Bitcoin mining. With their new order of Bitmain’s next-gen Antminers, this will assure the rapid growth and long-term investment of their mining operations”.
Earlier this year in February 2021, Riot also onboarded Jason Les as the new company CEO. Riot Blockchain (NASDAQ: RIOT), the public-listed company has seen its stock price skyrocketing over the last year. Earlier in February, the RIOT stock touched its all-time high above $70.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.