Home Bitcoin News Bitcoin Mining Riot Blockchain Announces Milestone Purchase Order of 42,000 S19j Antminers, Growing Total Hash Rate to 7.7 EH/s Upon 2022 Deployment Nasdaq:RIOT

Riot Blockchain Announces Milestone Purchase Order of 42,000 S19j Antminers, Growing Total Hash Rate to 7.7 EH/s Upon 2022 Deployment Nasdaq:RIOT

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Fort Rock, CO, April 07, 2021 (GLOBE NEWSWIRE) — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot”, “Riot Blockchain” or the “Firm”), one of many main Nasdaq-listed Bitcoin mining corporations in america, in the present day introduced a large-scale contract for the acquisition of 42,000 S19j Antminers for USD $138.5 million from Bitmain Applied sciences Restricted (“Bitmain”). This buy settlement represents a big step ahead in Riot’s strategic initiative to extend its Bitcoin mining hash charge, which is now estimated to achieve 7.7 exahash per second (EH/s) as soon as absolutely deployed. This stage of development represents a 93% enhance over the Firm’s beforehand estimated dedicated hash charge capability of 4.0 EH/s by October 2021.

This buy settlement considerably bolsters Riot’s projected development. Riot is scheduled to obtain a minimal of three,500 S19j Antminers on a month-to-month foundation beginning in November 2021, and can proceed via October 2022. The Firm is presently receiving month-to-month shipments as scheduled via October 2021, from earlier buy agreements and this new order continues that development trajectory.

“This long-term buy order marks a significant milestone within the continued growth of Riot’s mining operations,” mentioned Megan Brooks, COO of Riot. “Riot’s present fleet of miners has already positioned the Firm as an American chief in Bitcoin mining. By almost doubling its deliberate hash charge capability, Riot continues to take nice strides ahead in rising each the Firm’s and america’ share of the worldwide community hash charge. We’re pleased with this accomplishment and stay centered on persevering with to guage extra alternatives within the area.”

As soon as absolutely deployed, Riot can have a fleet of roughly 81,150 Antminers, 95% of which would be the newest technology S19 collection mannequin. The S19j operates at 90 TH/s and consumes 3,100 watts of power. With all miners absolutely deployed, the Firm’s whole fleet is anticipated to devour roughly 257.6 megawatts (MW) of power with an general hash charge effectivity of 33 joules per terahash (J/TH).  This new buy order continues to exhibit Riot’s dedication as a market chief to constructing probably the most environment friendly Bitcoin mining fleets within the {industry}.

The Firm notes the importance of securing a big scale buy contract comprised of the latest-generation miners of this magnitude, particularly throughout a interval of scarce provide of Bitcoin mining {hardware}. The worldwide scarcity of semiconductor manufacturing mixed with the latest enhance in demand for Bitcoin mining has hampered the power for a lot of miners to develop their hash charge. Riot has loved a optimistic, long-term relationship with market-leading mining {hardware} provider Bitmain, having entered into almost $230 million in buy contracts for miners since late 2019. 

“We’re excited for our long-term cooperation with Riot as they proceed to solidify their development and place as one of many world main corporations in Bitcoin mining. With their new order of Bitmain’s next-gen Antminers, this may guarantee the fast development and long-term funding of their mining operations”, mentioned Irene Gao, Antminer Gross sales Director of NCSA Area, Bitmain. 

About Bitmain 

Based in 2013, Bitmain transforms computing by constructing industry-defining know-how in cryptocurrency, blockchain, and synthetic intelligence (AI). Bitmain leads the {industry} within the manufacturing of built-in circuits for cryptocurrency mining, in addition to mining {hardware} underneath the Antminer model. The corporate additionally operates the biggest cryptocurrency mining swimming pools worldwide- Antpool.com and BTC.com. Bitmain know-how helps a variety of blockchain platforms and startups.

About Riot Blockchain

Riot Blockchain Inc. (NASDAQ: RIOT) focuses on cryptocurrency mining of Bitcoin. The Firm is increasing and upgrading its mining operations by securing essentially the most power environment friendly miners presently obtainable. Riot additionally holds sure non-controlling investments in blockchain know-how corporations. Riot is headquartered in Fort Rock, Colorado, and the Firm’s mining operations are positioned in upstate New York, underneath a co-location internet hosting settlement with Coinmint. For extra data, go to www.RiotBlockchain.com.

Protected Harbor

The data offered on this press launch could embrace forward-looking statements regarding future occasions or the long run monetary efficiency of the Firm. As a result of such statements are topic to dangers and uncertainties, precise outcomes could differ materially from these expressed or implied by such forward-looking statements. Phrases corresponding to “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and comparable expressions are meant to establish forward-looking statements. These forward-looking statements are based mostly upon present expectations of the Firm and contain assumptions which will by no means materialize or could show to be incorrect. Precise outcomes and the timing of occasions might differ materially from these anticipated in such forward-looking statements on account of varied dangers and uncertainties. Detailed data relating to components which will trigger precise outcomes to vary materially from the outcomes expressed or implied by statements on this press launch regarding the Firm could also be discovered within the Firm’s periodic filings with the U.S. Securities and Trade Fee (the “SEC”), together with the components described within the sections entitled “Danger Components,” copies of which can be obtained from the SEC’s web site at www.sec.gov. The Firm doesn’t undertake any obligation to replace forward-looking statements contained on this press launch.


        

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