Mining company Riot Blockchain has Ordered another 42,000 Antminer S19s

Mining company Riot Blockchain has Ordered another 42,000 Antminer S19s

The mining company Riot Blockchain has ordered 42,000 S19j Antminer ASIC miners from the Chinese manufacturer Bitmain for $138.5 million, which will double the company’s current hashrate.

Bitmain will supply the mining company with 3,500 Antminer S19j Pro every month between November 2021 and October 2022.

Megan Brooks, Chief Operating Officer of Riot Blockchain, said that due to the latest acquisition of ASIC miners, the company will significantly increase its mining capacity in the United States. Brooks said that the purchase of 42,000 mining devices is part of the Riot Blockchain business plan and the company will continue to expand its capabilities.

Earlier, Riot Blockchain planned to increase its hashrate to 3.8 Eh/s by the end of the year. However, by ordering such a number of mining devices, the company will double the target figure – up to 7.7 Eh/s. After the commissioning of the ordered equipment, Riot will have 81,150 Antminer miners at its disposal, 95 % of which are S19 ASIC miners of the latest generation. At the end of last year, the company ordered 15,000 Antminer ASIC miners from Bitmain, and in August, Riot signed an agreement with Bitmain to supply 8,000 ASICs.

Riot Blockchain shares are traded on the Nasdaq Stock Exchange. Despite the appearance of information about the purchase of mining equipment, the company’s shares fell sharply by 7%, reflecting the general correction in the cryptocurrency market