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Riot Announces First Industrial-Scale Immersion-Cooled Bitcoin Mining Operation
Riot is Developing 200 MW of Immersion-Cooled Bitcoin Mining Infrastructure at its Whinstone Facility. Immersion Technology Significantly Improves Operational
About this update from Riot Platforms, Inc.
[{"type":"text","content":"Riot is Developing 200 MW of Immersion-Cooled Bitcoin Mining Infrastructure at its Whinstone Facility. Immersion Technology Significantly Improves Operational Efficiencies and Provides Enhanced Financial Benefits.\nCastle Rock, CO, Oct. 19, 2021 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) (\"Riot”, “Riot Blockchain” or “the Company\"), a Nasdaq-listed industry leader in Bitcoin mining and hosting, announces the development of 200 megawatts (“MW”) of immersion-cooling technology at its Whinstone facility (“Whinstone”), which to the Company’s knowledge is the Bitcoin mining industry’s first industrial-scale immersion-cooled deployment of Bitcoin mining hardware (“miner(s)”, “ASIC” or “ASICs”). The development of 200MW of immersion-cooling at industrial-scale is a direct result of the Company’s focus on Bitcoin mining infrastructure development, led by Riot’s leadership team at Whinstone. “After months of research and development, utilizing partnerships across industries, Riot is proud to be a pioneer in the use of cutting-edge immersion-cooling technology at an unprecedented scale,” said Jason Les, CEO of Riot. “By leveraging technology, industry-leading low power costs, and economies of scale, Riot intends to continue driving operating and capital efficiencies for its self-mining business and its institutional clients. Due to these efficiencies, we anticipate observing an increase in the Company’s hash rate and productivity through 2022, without having to rely solely on purchasing additional ASICs.” Riot to Integrate Immersion-Cooling at Whinstone Of the previously announced 400 MW expansion of Whinstone, 200 MW of the infrastructure is committed to utilizing immersion-cooling technology in Bitcoin mining. This development covers two of the buildings under construction and is expected to host approximately 46,000 S19 Antminers from Riot’s already-purchased miner fleet. Immersion-cooling is an enhanced cooling technique, as compared to standard air-cooling of miners.Two of the four buildings currently under development at Whinstone are devoted to utilizing immersion-cooling technology, which represents 200 MW of immersion-cooled Bitcoin mining capacity.Combined, the two immersion-cooled buildings are expected to host approximately 46,000 S19 series Antminer ASICs.Immersion-cooling technology has never been previously ...