Riot Buys 2,500 More Bitmain Miners in Latest Fleet Expansion

The publicly traded bitcoin miner aims to quadruple its current hashrate by mid-2021.

Oct 7, 2020 at 6:56 p.m. UTC
Updated Sep 14, 2021 at 10:05 a.m. UTC

Bitcoin mining company Riot Blockchain has bought another 2,500 S19 Pro Antminer rigs from BitmainTech PTE as the publicly traded firm races to quadruple its mining power, denominated by hashrate, by mid-2021.

  • Riot said Tuesday it paid $6.1 million for the rigs; delivery and deployment are slated for December.
  • The new purchase, plus the thousands of not-yet-delivered Bitmain rigs Riot expects to begin arriving this month, will drastically increase Riot's hashrate from its current levels – around 500 PH/s – to an estimated 2.3 EH/s by June.
  • Riot's latest purchase and lofty hash rate goal are further evidence of the massive infrastructural demands that bitcoin miners face to stay competitive as bitcoin's price and mining difficulty both rise.
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