Riot Blockchain,
a cryptocurrency mining company, has expanded its fleet and mining capacity with a new purchase order for 42,000 S19j Antminers from Bitmain.
The purchase order, valued at $138.5 million, is part of a coordinated growth plan to significantly increase Riot’s Bitcoin (BTC) mining hash rate. As a result of the current and previous orders, Riot said it is scheduled to receive a minimum of 3,500 S19j Antminers per month beginning in November and running through October 2022.
As Cointelegraph previously reported, Riot expects to achieve a hash rate capacity of 3.8 exahash per second by the end of 2021. Once deployed, the new order of 42,000 Antminers will more than double the capacity to 7.7 EH/s.
Once fully operational, Riot’s mining fleet will consist of 81,150 Antminers, of which 95% are the latest generation S19 miners.
Shares of Riot Blockchain were down sharply Wednesday, reflecting the overall downtrend in the cryptocurrency market. The stock is down 7% at the time of publication and has corrected 36% from last month’s all-time high. Astonishingly, Riot’s 52-week low is $0.93. It peaked at $79.50 in mid-March and currently trades just above $50 a share.
a cryptocurrency mining company, has expanded its fleet and mining capacity with a new purchase order for 42,000 S19j Antminers from Bitmain.
The purchase order, valued at $138.5 million, is part of a coordinated growth plan to significantly increase Riot’s Bitcoin (BTC) mining hash rate. As a result of the current and previous orders, Riot said it is scheduled to receive a minimum of 3,500 S19j Antminers per month beginning in November and running through October 2022.
As Cointelegraph previously reported, Riot expects to achieve a hash rate capacity of 3.8 exahash per second by the end of 2021. Once deployed, the new order of 42,000 Antminers will more than double the capacity to 7.7 EH/s.
Once fully operational, Riot’s mining fleet will consist of 81,150 Antminers, of which 95% are the latest generation S19 miners.
Shares of Riot Blockchain were down sharply Wednesday, reflecting the overall downtrend in the cryptocurrency market. The stock is down 7% at the time of publication and has corrected 36% from last month’s all-time high. Astonishingly, Riot’s 52-week low is $0.93. It peaked at $79.50 in mid-March and currently trades just above $50 a share.