Crypto Mining Company Riot Blockchain Purchases Order For 42,000 S19j Antminers From Bitmain
Crypto Mining Company Riot Blockchain Purchases Order For 42,000 S19j Antminers From Bitmain
April 9, 2021
Crypto Mining Company Riot Blockchain Purchases Order For 42,000 S19j Antminers From Bitmain
Crypto Mining Company Riot Blockchain Purchases Order For 42,000 S19j Antminers From Bitmain
April 9, 2021

Riot Blockchain, the cryptocurrency mining company, has purchased order for 42,000 S19j Antminers from Bitmain.

Megan Brooks, the COO of Riot Blockchain, said that the latest purchase order positions her company and the United States at the center of the Bitcoin mining industry.

She said:

“By nearly doubling its planned hash rate capacity, Riot continues to take great strides forward in growing both the company’s and the United States’ share of the global network hash rate. We are proud of this accomplishment and remain focused on continuing to evaluate additional opportunities in the space.”

It has been reported that the purchase order, valued at $138.5 million, is part of a coordinated growth plan to significantly increase Riot’s Bitcoin mining hash rate.

As a result of the current and previous orders, Riot said that it is scheduled to receive a minimum of 3,500 S19j Antminers per month beginning in November and running through October 2022. Also, it has been reported earlier that Riot expects to achieve a hash rate capacity of 3.8 exahashes per second by the end of 2021.

ALSO READ :  VeChain Launches Blockchain-Based Sustainability Solution To Digitize Sustainable Practices

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.

Likewise, shares of Riot Blockchain were down sharply on Wednesday by reflecting the overall downtrend in the cryptocurrency market. 

Thus, Riot’s 52-week low is $0.93, as it peaked at $79.50 in mid-March and currently trades just above $50 per share.

Source: Cointelegraph | Image: Coindesk


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Report: Ethereum Can Go To $10,000 In 2021

Report: Ethereum Can Go To $10,000 In 2021

A report by professional trader Scott Melker said that Ethereum can go to $10,000 in 2021 and can overshadow Bitcoin. It has been reported that Melker sees this period of Bitcoin’s price consolidation as particularly...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.