Riot Blockchain Purchases 1,040 More Bitmain Miners

bitcoin mining
bitcoin mining

Riot Blockchain, a platform “focused on building, supporting and operating Blockchain technologies,” has purchased 1,040 Bitmain S19 Antmiers for $1.9 million. This is on top of the group’s 1,000 purchased on April 30 of this year, according to a press release from the group.

Once these are all ready and deployed out, Riot claims it will be able to increase its hashrate over 80% to around 457 petahashes per second. This should take up around 16.5 megawatts of energy.

Ideally, the goal here is to be more energy-efficient than Bitcoin’s previous ASIC miners. “The May 6th purchase of 1,040 Bitmain S19 Antminers boast a hash rate of 95 TH/s and an energy efficiency of 34.5±% 5 joules per terahash (J/TH),” the release notes.

As InsideBitcoins has previously reported on, Riot Blockchain was also in the news for partnering with Coinmint to “positively impact its power costs.” Riot, which is a Nasdaq listed mining company in the United States, will be bringing some of these miners over to a facility provided by Coinmint. It’s because of this that the group will save both money and power.

Riot has also been keeping an eye on the coronavirus situation, and plans to continue doing so:

“As published in its previous disclosures, Riot is continuing to closely monitor COVID-19 and its potential impact on the Company’s workforce, operations, finance and liquidity. To date, the impact has remained minimal.”

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Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend.