Mining company Riot Blockchain has ordered 42,000 S19j Antminer ASIC miners from the Chinese manufacturer Bitmain for $ 138.5 million, which will double the company’s current hash rate.
Bitmain will supply 3,500 Antminer S19j Pro to the mining company every month from November 2021 to October 2022.
Riot Blockchain COO Megan Brooks said the company will significantly increase its mining capacity in the US with the latest ASIC acquisition. Brooks said the purchase of 42,000 mining devices is part of the Riot Blockchain business plan and the company will continue to expand its capabilities.
Previously, Riot Blockchain planned to increase its hashrate to 3.8 Eh / s by the end of the year. However, by ordering such a number of mining devices, the company will double the target figure – up to 7.7 Eh / s. After commissioning the ordered equipment, Riot will have 81,150 Antminer miners, 95% of which are the latest generation S19 ASIC miners. At the end of last year, the company ordered 15,000 Antminer ASIC miners from Bitmain, and in August Riot entered into an agreement with Bitmain to supply 8,000 ASICs.
Riot Blockchain is listed on the Nasdaq Stock Exchange. Despite the emergence of information about the purchase of mining equipment, the company’s shares fell sharply by 7%, reflecting the general correction in the cryptocurrency market.