Riot Blockchain, a cryptocurrency mining corporate, has expanded its fleet and mining capability with a brand new acquire order for 42,000 S19j Antminers from Bitmain.
Megan Brooks, Riot’s COO, mentioned the most recent acquire order positions her corporate and the United States on the middle of the Bitcoin mining trade:
“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.”
The acquire order, valued at $138.5 million, is a part of a coordinated expansion plan to seriously building up Riot’s Bitcoin (BTC) mining hash fee. As a end result of the present and former orders, Riot mentioned it’s scheduled to obtain at least 3,500 S19j Antminers per 30 days starting in November and working via October 2022.
As Cointelegraph prior to now reported, Riot expects to succeed in a hash fee capability of three.8 exahash in keeping with 2d by means of the tip of 2021. Once deployed, the brand new order of 42,000 Antminers will greater than double the capability to 7.7 EH/s.
Once absolutely operational, Riot’s mining fleet will encompass 81,150 Antminers, of which 95% are the most recent era S19 miners.
Shares of Riot Blockchain have been down sharply Wednesday, reflecting the whole downtrend within the cryptocurrency marketplace. The inventory is down 7% on the time of newsletter and has corrected 36% from closing month’s all-time prime. Astonishingly, Riot’s 52-week low is $0.93. It peaked at $79.50 in mid-March and lately trades simply above $50 a proportion.