Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars

Company executives say Riot Blockchain is on track to become cash flow positive later this year.

AccessTimeIconAug 18, 2020 at 10:24 p.m. UTC
Updated Sep 14, 2021 at 9:45 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Riot Blockchain is buying 8,000 additional S19 Pro Antminers from BitmainTech PTE as the publicly traded company looks to compete in a bitcoin mining scene getting more difficult by the day.

  • Miners are flocking to take advantage of bitcoin's recent price surge. But they can only do so by deploying massive operations, as evidenced by all-time high network difficulty rates and recent rig acquisitions.
  • Once fully online in early 2021, the rigs will vault Riot Blockchain's hashrate – the computing power dedicated to mining bitcoin blocks – well above 1 exahash per second, according to a Monday press release.
  • Riot Blockchain says it will have 15,040 deployed rigs posting 1.45 exashashes per second and consuming 47 megawatts of energy once it installs the Antminers.
  • But that day won't come until next April at the earliest. Bitmain will begin delivering 2,000 S19 Pro Antminers per month starting in January 2021.
  • Riot is spending $17.7 million on the rigs. It's a bulk discount that Riot says comes in spite of bitcoin's rocketing valuation.
  • "With our current miner deployment schedule, we anticipate that based upon current factors, Riot would achieve positive cash flow in late 2020," Chairman Remo Mancini said in the statement.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.