Riot Blockchain Buys Bitmain Miners for $138.5 million

The guys from Riot Blockchain announced today that they have bought 42,000 S19j Antminers produced by Bitmain. The transaction amounted to $138.5 million

According to a Bitmain representative, Riot is a profitable customer. The company continues to consolidate growth to take its place among the mining giants.

Moreover, ahead of the previous plan. The current rate of expansion is 93% higher than planned. In October 2021 the company planned to reach 4.0 EH/s.

After receiving deliveries with new mining installations, Riot Blockchain will have 81,150 Antminers. 95% of the equipment will be presented by S19. Heshrate company will double (to 7.7 EH/s). This will allow them to achieve high mining rates.

 

 

About S19j Antminers

Installations operate at an average speed of 90 TH/s. Energy consumption is 3100 W. If all miners work, electricity consumption will be at 257.6 MW with total hashing productivity - up to 33 J/TH.

About Mining

Bitcoin mining is a profitable business. So, it's no surprise that Riot is expanding. However, there is competition in this area. The hashing speed has re-established ATH. 06.04.2021 this index, according to Coin Metrics, reached 179.4 hash.

 

 

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The article has an informational character, reflects the opinion of the author. Before you make a decision, analyze the market situation.