Fort Rock, CO, Dec. 21, 2020 (GLOBE NEWSWIRE) — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot”, “Riot Blockchain” or the “Firm”), proclaims an anticipated 65% improve in bitcoin mining hash charge capability ensuing from the acquisition and future deployment of 15,000 S19 Professional and S19j Professional Antminers from Bitmain Applied sciences Restricted (“Bitmain”). The approximate $35 million buy is comprised of three,000 S19 Professional Antminers (110 TH) and 12,000 S19j Professional Antminers (100 TH). These further miners are scheduled for receipt and deployment beginning in Might 2021 and persevering with by October 2021.
This new order of miners, mixed with the Firm’s prior miner purchases, is predicted to considerably improve Riot’s estimated bitcoin mining hash charge from the beforehand introduced 2.3 EH/s to three.8 EH/s. The Firm has been receiving and deploying new miners constantly by 2020, together with this new buy; the supply schedule continues into the fourth quarter of 2021.
At full deployment of Riot’s 37,640 next-generation fleet of miners, Riot estimates its complete operational hash charge capability shall be 3.8 EH/s and devour roughly 120 MW of vitality. Consequently, the Firm expects to have an mixture mining effectivity of 31.79±% 5 joules per terahash (J/TH).
“Continued development in deployed miners is paramount to a miner’s success,” stated Jeff McGonegal, CEO of Riot. “Increasing the Firm’s bitcoin mining hash charge and working on an economical foundation is essential, notably in periods when the bitcoin spot value has appreciably elevated. We’re happy to have secured this newest buy, particularly on condition that the out there provide of mining {hardware} continues to develop into more and more scarce.”
“We’re extraordinarily excited to broaden and deepen our partnership with Riot Blockchain once more this yr. In complete, Riot moreover bought 15,000 Antminer 19 collection. The 19 collection take pleasure in a large recognition within the international markets with excellent hash charges and energy effectivity, which constantly deliver large values to our clients all over the world. I’m assured that with the brand new buy, Riot can proceed to develop their mining operation and play an more and more very important position in bitcoin mining throughout North America.” stated Irene Gao, Antminer Gross sales Director of NCSA Area, Bitmain.
All miner purchases proceed to be funded utilizing out there working capital. Riot has no long-term debt. The Firm is constant to evaluate the bitcoin panorama with the help of XMS Capital in evaluating alternatives and transactions to additional improve shareholder worth.
About Bitmain
Based in 2013, Bitmain transforms computing by constructing industry-defining know-how in cryptocurrency, blockchain, and synthetic intelligence (AI). Bitmain leads the {industry} within the manufacturing of built-in circuits for cryptocurrency mining, in addition to mining {hardware} beneath the Antminer model. The corporate additionally operates the biggest cryptocurrency mining swimming pools worldwide-Antpool.com and BTC.com. Bitmain know-how helps a variety of blockchain platforms and startups.
About Riot Blockchain
Riot Blockchain (NASDAQ: RIOT) focuses on cryptocurrency mining of bitcoin. The Firm is increasing and upgrading its mining operations by securing probably the most vitality environment friendly miners presently out there. Riot additionally holds sure non-controlling investments in blockchain know-how firms. Riot is headquartered in Fort Rock, Colorado, and the Firm’s main mining facility was lately relocated to upstate New York, beneath a co-location internet hosting settlement with Coinmint. For extra data, go to www.RiotBlockchain.com.
Secure Harbor
The data supplied on this press launch could embody forward-looking statements referring to future occasions or the longer term monetary efficiency of the Firm. As a result of such statements are topic to dangers and uncertainties, precise outcomes could differ materially from these expressed or implied by such forward-looking statements. Phrases reminiscent of “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and related expressions are meant to establish forward-looking statements. These forward-looking statements are primarily based upon present expectations of the Firm and contain assumptions which will by no means materialize or could show to be incorrect. Precise outcomes and the timing of occasions might differ materially from these anticipated in such forward-looking statements because of varied dangers and uncertainties. Detailed data relating to components which will trigger precise outcomes to vary materially from the outcomes expressed or implied by statements on this press launch referring to the Firm could also be discovered within the Firm’s periodic filings with the Securities and Change Fee, together with the components described within the sections entitled “Danger Elements,” copies of which can be obtained from the SEC’s web site at www.sec.gov. The Firm doesn’t undertake any obligation to replace forward-looking statements contained on this press launch.
PR Contact Riot Blockchain, Inc. PR@riotblockchain.com Investor Contact Riot Blockchain, Inc. IR@riotblockchain.com
