The Nasdaq listed Bitcoin mining firm, Riot Blockchain, is about to get its 8k S19 Pro Antminers from Bitmain, bringing its total deployed feet to an approximate 15,040 miners by the end of April 2021. The firm released an official press release earlier on 17th Aug., highlighting that successful integration of the prospectus S19’s would boost its hashrate by over half to 1.45 EH/s.
This development comes as the cryptocurrency market continues to take care of a bullish trend with a general mood of excitement, especially within a niche like DeFi where the expansion is exponential. it’s not surprising that institutional stakeholders within the cryptocurrency mining sector are also gearing up for the recent market. Riot’s Blockchain Independent Chairman, Remo Mancini revealed that their latest move is in line with the company’s strategic growth & cryptocurrency market trends:
“We have previously announced our goal to become one among the leading bitcoin miners within North America, and this big purchase represents a big step towards achieving that goal. With our present miner deployment schedule, we anticipate that based upon current factors, Riot would achieve positive income later this year in 2020.”
The new S19 Pro Antminers ordered by Riot Blockchain will cost the firm a sum of $17.7 Mln, with Bitcoin [BTC] expected to form the delivery in batches of 2k monthly starting from January 2021.
Moreover, Riot got a far better deal from Bitmain compared to previous purchases due to its big order placed. Bitmain’s NCSA Region Antminer Sales Director, Irene Gao, commended Riot Blockchain on this milestone:
“The latest order from Riot Blockchain marks another milestone for their company as they still expand their mining operations across North America. The Antminer S19 Pro houses the newest technology offered by Bitmain, achieving remarkable hash rates that serve to further the expansion and position of the company.”