CASTLE ROCK, Colo., April 30, 2020 /PRNewswire/ — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot” or the “Firm”), one of many few Nasdaq listed public cryptocurrency mining corporations in the US, pronounces the acquisition of 1,000 subsequent era Bitmain S19 (110 TH) Professional Antminers for USD $2.four million from BitmainTech PTE. LTD. (“Bitmain”). This buy is one other step within the Firm’s current strategic initiatives and was funded from Riot’s obtainable money available.
The newest era of bitcoin (“BTC”) Software-Particular Built-in Circuit (“ASIC”) miners from Bitmain are markedly extra vitality environment friendly than prior Bitmain fashions and different ASIC miners at present obtainable. The Bitmain Antminer S19 Professional boasts a hash price of 110 TH/s and an vitality effectivity of 29.5±% 5 joules per terahash (J/TH). As soon as the brand new S19s are obtained and absolutely deployed, Riot estimates its combination working hash price will improve by 46% to roughly 358 petahash per second (“PH/s”). Riot anticipates receiving the S19s by early July.
“Bitmain has been working with Riot Blockchain for a number of years, the corporate has been utilizing our Antminer merchandise for working their information facilities, and shortly to be using the most recent applied sciences now we have in our product line-up, the S19 collection.” Bitmain’s North American Crew additional said, “We’re assured with the continued cooperation and development they’ve as they additional increase their operations within the mining sector.”
COVID-19 Pandemic Replace: Per the press launch issued on April 14, 2020, Riot is constant to watch COVID-19 and its potential impression on the Firm’s workforce, operations, finance and liquidity. Up to now, the impression has remained minimal.
About Bitmain
Bitmain Know-how Holding Firm (“Bitmain”) is a multinational semiconductor firm with state-of-the-art IC design capabilities. Bitmain gives merchandise, together with chips, servers, and cloud options, for blockchain and synthetic intelligence (AI) functions. Bitmain has shipped billions of ASICs, accounting for 75% of the worldwide market. Being one of many world’s few corporations with the potential to develop cloud-based AI chips, Bitmain has efficiently launched 4 generations of its AI chip. For extra data, go to http://www.bitmain.com.
About Riot Blockchain
Riot Blockchain is concentrated on constructing, working, and supporting blockchain applied sciences. Its main operations include cryptocurrency mining, focused growth of a cryptocurrency trade, and the identification and assist of improvements throughout the sector. For extra data, go to http://www.RiotBlockchain.com/.
Investor Discover
Investing in our securities entails a excessive diploma of threat. Earlier than investing determination, it’s best to fastidiously contemplate the dangers, uncertainties and forward-looking statements described beneath “Danger Components” in Merchandise 1A of our most up-to-date Type 10-Okay for the fiscal yr ended December 31, 2018 filed with the Securities and Trade Fee (the “SEC”) on April 2, 2019, as amended by Modification No. 1 on Type 10-Okay/A on April 23, 2019, in addition to these threat elements disclosed in any periodic reviews we file with the SEC. If any of those dangers have been to happen, our enterprise, monetary situation or outcomes of operations would possible undergo. In that occasion, the worth of our securities might decline, and you would lose half or all your funding. The dangers and uncertainties we describe should not the one ones going through us.
Extra dangers not presently recognized to us or that we at present deem immaterial can also impair our enterprise operations. As well as, our previous monetary efficiency might not be a dependable indicator of future efficiency, and historic developments shouldn’t be used to anticipate outcomes sooner or later. See “Secure Harbor” under.
Secure Harbor
The data offered on this press launch might embrace forward-looking statements regarding future occasions or the longer term monetary efficiency of the Firm. As a result of such statements are topic to dangers and uncertainties, precise outcomes might differ materially from these expressed or implied by such forward-looking statements. Phrases akin to “anticipates,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and related expressions are supposed to determine forward-looking statements. These forward-looking statements are primarily based upon present expectations of the Firm and contain assumptions that will by no means materialize or might show to be incorrect. Precise outcomes and the timing of occasions might differ materially from these anticipated in such forward-looking statements on account of numerous dangers and uncertainties. Detailed data concerning elements that will trigger precise outcomes to vary materially from the outcomes expressed or implied by statements on this press launch regarding the Firm could also be discovered within the Firm’s periodic filings with the Securities and Trade Fee, together with the elements described within the sections entitled “Danger Components,” copies of which can be obtained from the SEC’s web site at www.sec.gov. The Firm doesn’t undertake any obligation to replace forward-looking statements contained on this press launch.
SOURCE Riot Blockchain, Inc.
