Crypto Mining

Riot Blockchain Triples Bitcoin Mining Production – Presently Holds $194 Mln In BTC.

Riot Blockchain, a public mining company, has more than tripled its Bitcoin production year to date.

Riot Blockchain, a publicly traded mining company based in the United States, announced that their year-to-date Bitcoin (BTC) production had more than tripled compared to 2020.

Riot has mined 2,457 BTC (approximately $135 million) so far in 2021, according to a Wednesday report, a 246 percent raise over the same period the previous year.

Last month, Riot mining produced 406 Bitcoins, up from 91 BTC in September 2020, more than quadrupling production year over year. As of September 30, 2021, Riot had 3,534 Bitcoin valued at $194.4 million. According to the company, it has mined all of its Bitcoins.

Riot claims to have a total hash rate capacity of 2.6 exahashes per second (EH/s) with a deployed fleet of around 25,646 miners. By early November, Riot plans to deploy an additional 2,000 Bitmain Antminer S19Js, bringing the total hashing capacity to 2.8 EH/s.

At the end of October, Bitmain will ship another 4,000 Antminer S19Js from its Malaysian factory. Despite Riot’s great September performance, none of its newly minted Bitcoin was sold.

Riot also mentions that the Whinstone Facility in Texas, which it just acquired, is progressing “around the clock,” with the fourth 100-megawatt power transformer substation expected to be installed by December.

Riot intends to have more than 81,000 Antminers operating by the fourth quarter of next year, with a hash rate of 7.7 EH/s.

Riot isn’t the only publicly traded mining company to have had a good month, with Marathon Digital Holdings revealing on Monday that it mined 340.6 BTC in September.

Marathon reported a 91 percent rise in production for the third quarter of 2020, generating 1,252.4 Bitcoin (almost $69 million). Marathon believes it commands a fleet of 25,272 miners representing a combined hash rate of 2.7 EH/s.

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