US-headquartered cryptocurrency mining agency, Riot Blockchain (NASDAQ: RIOT), just lately revealed that it has greater than doubled the variety of high-end Bitcoin (BTC) miners it operates – which ought to roughly double its hashrate (quantity of computing energy) at across the time of the BTC halving.
On Might 6, 2020, the corporate notably announced the bought 1,040 Antminer S19s from Chinese language producer Bitmain.
The brand new crypto mining tools value the corporate $1.9 million, after Riot’s buy of 1,000 S19s Execs (confirmed on April 30, 2020).
Riot Blockchain plans to obtain and set up the brand new digital foreign money miners throughout Q3 2020. The corporate mentioned it expects that the two,040 S19s will enhance its operational hashrate by as a lot as 80% by subsequent yr.
Riot claims that it ought to have an working hashrate of 457 petahashes per second. The agency expects to make the most of round 16.5 megawatts of electrical energy as soon as the tools has been put in and begins operating.
A Bitmain consultant from North America mentioned the corporate had been working cooperatively with the Riot Blockchain group for the previous few years. The consultant added that Riot has been utilizing Bitmain’s Antminer merchandise at its knowledge facilities.
Riot’s massive buy from Bitmain has been finalized at a time when there have been stories of points with the mining large’s just lately shipped batch of S17s cryptocurrency miners. Failure charges have been round 30%, in keeping with stories from a number of miners.
The agency says it’s within the strategy of negotiating phrases with purchasers who might have purchased faulty mining tools.
Riot Blockchain’s administration revealed that its operations have been affected by the COVID-19 outbreak. The corporate mentioned it has moved a few of its just lately acquired S17 crypto miners to a separate middle managed by mining service supplier, Coimint (in New York).
A New Jersey choose just lately granted seven motions of dismissal, which ended a prolonged lawsuit filed in opposition to Riot Blockchain. The go well with had alleged that the corporate might have misled its traders again in 2018.
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