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The Riot Blockchain Company made news yet again with the purchase of 2500 next-generation S19 Pro Antminer cryptocurrency. As a part of its operational expansion, the Blockchain company has spent another USD $6.1 Million to crack the purchase from Bitmain Tech PTE LTD. The order is further scheduled for receipt and deployment delivery in December this year.
Riot’s growth expansion plans
Riot’s unbending focus on the transformational focus of its mining operations has it strategizing for some time now. This is primarily why it decided to take advantage of the new S19Pro Production capacity from its partner Bitmain by buying these 2500 additional S19 Pro Miners. The purchase will have positive impacts on its operational hash rate expected to reach 842 PH/s with a total of 9,540 miners deployed by the end of this year. This is surely an increase in Riot. As per what Riot actually estimated for itself for the end of this year, it is 50% above the estimate which talks about its commitment to goals.
The company has set its eyes on some exceptional hash rates and in combination with its previous purchases of Bitmain’s S19 Pro Antminers, it is expecting its total hash rate to reach a capacity of 2.3 EH/s by June 2021. This rate has been achieved considering the total miners to be deployed are around 22,460. Riot is also sure and completely aware that no other publicly traded bitcoin mining company has been able to achieve such hash rates to date.
Deployment of Miners
Riot has also taken delivery of 563 of the 1,000 S-19 Pros it had ordered and purchased previously as per the announcement it made June this year. The deployment of the same has been executed at Coinmint’s LLC’s Massena, NY taking the company’s deployed hash rate capacity to 519 PH/s. It is an increase of 14% registered from September hashrate. As has been previously disclosed by the company itself, the company shifted its entire fleet of Antiminers to Coinmint in Q3 this year. This is a part of a new hosting partnership and has gained from the move with decreased energy and operational costs.
Riot previously announced the purchase of 13,100 S19 Pro Antminers from Bitmain. It is contemplating on receiving and deploying new miners every month starting this month till it continues up to June 2021. When all of this will be merged with the existing fleet, the company is looking at big numbers close to 22,460 miner deployment. Among these whopping numbers, the majority of the deployment will be the next-generation S19 Pro Miners.
About Riot
Riot Blockchain is a company that focuses on the cryptocurrency mining of bitcoin. The company is looking at expanding and upgrading its mining operations and wants to procure every efficient miner available to do the job. Riot is all about blockchain because it also holds some substantial investments in Blockchain tech companies. Headquartered in Castle Rock, Colorado, the company’s mining location was recently moved to upstate New York. The relocation was under the hosting agreement with Coinmint.