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Riot Blockchain Announces S19 Pro Antminer Fleet Expansion
Riot Receives and is Deploying 2,500 Previously Ordered S19 Pro Antminers, Growing In-place Operational Hash Rate Capacity by Nearly 50% to 842 PH/s. Delivery
About this update from Riot Platforms, Inc.
[{"type":"text","content":"Riot Receives and is Deploying 2,500 Previously Ordered S19 Pro Antminers, Growing In-place Operational Hash Rate Capacity by Nearly 50% to 842 PH/s. Delivery of Approximately 1,400 S19 Pro Antminers from Outstanding Orders, is in Transit for Delivery This Week\nCastle Rock, CO, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) (\"Riot”, “Riot Blockchain” or the “Company\"), one of the few NASDAQ-listed bitcoin mining companies in the United States, announces receipt and deployment of 2,500 Bitmain S19 Pro Antminers as part of the purchase agreement disclosed in October 2020. The newly received miners are currently being deployed and installation is expected to be completed over the next week. Once the S19 Pro Antminers are fully deployed, Riot will have a total of 9,540 Antminers in operation with a hash rate capacity reaching an estimated 842 petahash (“PH/s”), representing a nearly 50% increase in operational hash rate capacity. This shipment will expand the Company’s mining fleet operating at Coinmint LLC’s (“Coinmint”) facility in Massena, New York as part of a hosting relationship between the two companies. Riot has significantly reduced its energy and direct operational costs since relocating its miners to Coinmint, aided by the level of excess renewable energy available in the Massena area. The Coinmint facility draws a significant portion of its energy from hydroelectric sources and the annual average generation cost has been approximately 1.4 cents per kilowatt-hour (“kWh”) net of distribution related costs. Ashton Soniat, CEO of Coinmint stated, “Coinmint was designed specifically to meet the needs of institutional miners such as Riot, and we are pleased to support this continued relationship. These miners, and approximately 13,000 additional expected to be delivered through the first half of 2021, will join their sizeable deployment already on-site - and make Riot one of the largest hash rate producers worldwide.” Riot has an additional 28,100 S19 and S19j Pro Antminers on order that are scheduled for shipment on a monthly basis through October 2021. Once fully deployed, the Company estimates it will have a total of 37,640 Bitmain Antminers in operation with an estimated aggregate bitcoin mining hash rate capacity of 3.8 Exahash (“EH/s”). The initial January 2021 delivery of approximately 1,400 S...