The mining company Riot Blockchain has acquired another 2,500 antminer S19 Pro ASIC miners from BitmainTech. Riot plans to quadruple its hashrate by mid-2021.
This week, Riot Blockchain announced that it has signed a contract with Bitmain to supply 2,500 ASIC miners Antminer S19 Pro worth $6.1 million. The devices will be delivered and installed at Riot’s facilities in December.
A new batch of ASIC miners, as well as several thousand yet-to-be-delivered Bitmain devices, will dramatically increase Riot’s hashrate from the current level of about 500 Px/s to about 2.3 eh/s by June next year.
The new Riot deal and the intention to significantly increase the hashrate is another indication of the serious infrastructure requirements faced by bitcoin miners who want to continue mining after halving. This is due to the increasing complexity of mining and the price of bitcoin.
At the same time, traditional financial companies are increasingly interested in the mining industry. Recently, it became known that the three largest asset managers of the company: Charles Schwab, Fidelity and Vanguard, diversify their assets and buy
shares of companies in the blockchain industry. Charles Schwab banking and brokerage group has started buying Riot Blockchain shares. Previously, Fidelity and Vanguard also invested in Riot.