Company Estimates Over 80% Increase in Operating Hashrate to 457 PH/S With Anticipated Receipt and Deployment of 2,040 Total s19s During Third Quarter of 2020
Riot Blockchain, Inc., one of the few Nasdaq listed public cryptocurrency mining companies in the United States, announces the purchase of an additional 1,040 next-generation Bitmain S19 (95 TH) Antminers for USD $1.9 million from BitmainTech PTE. LTD. (“Bitmain”).
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On April 30, 2020, Riot Blockchain announced its purchase of 1,000 S19 Pro (110 TH) miners. The combined purchase of the 2,040 new S19s, is another step supporting the Company’s recent strategic initiatives focused on expanding its bitcoin mining operations. The purchases were funded from Riot Blockchain available cash on hand. Riot anticipates that the total 2,040 new S19 miners will be received and deployed in the third quarter of 2020. Once the total 2,040 new S19s are received and fully deployed, Riot estimates its aggregate operating hash rate will increase over 80% to approximately 457 petahash per second (“PH/s”) and utilize approximately 16.5 megawatts of energy.
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The latest generation of bitcoin (“BTC”) Application-Specific Integrated Circuit (“ASIC”) miners from Bitmain are markedly more energy efficient than prior Bitmain models and other ASIC miners currently available. The May 6th purchase of 1,040 Bitmain S19 Antminers boast a hash rate of 95 TH/s and an energy efficiency of 34.5±% 5 joules per terahash (J/TH).
COVID-19 Update: As published in its previous disclosures, Riot is continuing to closely monitor COVID-19 and its potential impact on the Company’s workforce, operations, finance and liquidity. To date, the impact has remained minimal.
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