Bitcoin

Riot Blockchain increases its hash rate by 45% thanks to 1,000 new S19 Antminers

The listed mining company Bitcoin (BTC), Riot blockchain, They hope to increase their hash rate by 45% after receiving 1,000 Bitmain S19 Pro Antminers.

Form this The first of three batches you ordered from the latest generation of Bitmain miners. The company recently acquired a total of 2,000 S19 Pro and 1,040 S19 miners.

The 1,000 S19 Pro units are expected to go online at a Coinmint mining facility in Massena, New York over the next two days. Indeed, Riot operates 4,000 S17 Pro Antminers.

Riot targets 0.46% of the total hash

Riot Blockchain increases its hash rate by 45% thanks to 1,000 new S19 Antminers
Riot Blockchain increases its hash rate by 45% thanks to 1,000 new S19 Antminers

The new Antminers will bring Riot’s operational hash rate up 357 petahashes per secondwhat is equivalent to 0.29% of the current bitcoin hash rate of almost 123,000 petahashes.

Once all of the company’s new miners were received and deployed, Riot hopes to control an additional hash force of 566 petahashesThis corresponds to an increase of 129% compared to the company’s current capacity and 0.46% of the total hash rate of the Bitcoin network. Riot hopes to overcome an exahash of operational capacity early next year.

Good news

Riot signed a “Co-Location Mining Services Service” with Coinmint Relocate part of the Oklahoma Antminer S17 to the New York plant in April, an old aluminum foundry. Riot stressed that the deal would offer a reduction in electricity and air conditioning costs.

Despite an accumulated deficit of $ 221 million and the use of equity and debt financing to cover its operations Riot’s share price has so far outperformed BTC in 2020, and share performance reflects a 70% increase in the quarterly interim annual income and in the rejection of the allegations that the company assumed the implementation of pump-and-dump measures.

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