BlocksInform
Riot Blockchain, a cryptocurrency mining company, has expanded its fleet and mining capacity with a new purchase order for 42,000 S19j Antminers from Bitmain.
Megan Brooks, Riot’s COO, said the latest purchase order positions her company and the United States at the center of the Bitcoin mining industry:
“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 purchase order, valued at $138.5 million, is part of a coordinated growth plan to significantly increase Riot’s Bitcoin (BTC) mining hash rate.Due to current and previous orders made by Riot, it is presently scheduled to receive a minimum of 3,500 S19j Antminers per month beginning in November 2022 through October 2022.
As Cointelegraph previously reported, Riot expects to achieve a hash rate capacity of 3.8 exahash per second by the end of 2021.Once deployed, the new order of 42,000 Antminers will more than double the mining capacity to 7.7 EH/s.
Once fully operational, Riot’s mining fleet will comprise 81,150 Antminers; 95% of them are the S19 generation miners.
Shares of Riot Blockchain were down sharply Wednesday, reflecting the overall downtrend in the cryptocurrency market.As of the time of publication, the stock had fallen 7% and had corrected 36% from last month's all-time high.Astonishingly, Riot’s 52-week low is $0.93.During the middle of March, it peaked at $79.50 a share, and it has now started trading just over $50 a share.
