Riot Blockchain is deploying previously ordered 2,500 Bitmain S19 Pro antminers and expecting their installation to be completed over the next week. Once fully deployed, Riot will have a total of 9,540 Antminers in operation. Its operational capacity will reach nearly 50% in its hash capacity, with an estimated increase of 842 petahash. Riot Blockchain to Install 2,500 Antminers Riot Blockchain, Inc. is one of the few NASDAQ-listed bitcoin mining companies in the United States. The crypto mining company is upgrading its mining operations by securing the most energy-efficient miners. The 2,500 Bitmain S19 Pro antminers have been deployed as part of a purchase agreement announced in Oct. 2020. The crypto mining company has an additional 28,100 S19 and S19j Pro Antminers on orders that are scheduled for shipment on a monthly basis through October 2021. Once fully deployed, it will have a total of 37,640 Bitmain Antminers in operation with an estimated aggregate bitcoin mining hash rate capacity of 3.8 Exahash (EH/s). Expanding Riot’s Mining Operation at Coinmint The latest mining operation will expand Riot Blockchain’s mining fleet operating at Coinmint facility in Massena, New York as a part of partnership between the two companies. In a press release, Ashton Soniat, CEO of Coinmint stated: “Coinmint was designed specifically to meet the needs of institutional miners such as Riot, and we are pleased to support this continued relationship. These miners, and approximately 13,000 additional expected to be delivered through the first half of 2021, will join their sizeable deployment already on-site – and make Riot one of the largest hash rate producers worldwide.” The crypto mining company has significantly reduced its energy and direct operational costs since relocating its miners to Coinmint due to the level of excess renewable energy available in the Massena area. The Coinmint facility draws a significant portion of its energy from hydroelectric sources. Its annual average generation cost has been approximately 1.4 cents per kilowatt-hour (“kWh”) net of distribution-related costs.
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