Publicly listed company Riot Blockchain announced it is buying 15,000 S19 Pro and S19j Pro Antminers mining rigs from Bitmain. According to the firm, the new shipment of next-generation miners will rise the operation’s hashrate to 3.8 exahash per second (EH/s).
The company says that it will obtain approximately 3,000 S19 Pro Antminers (110TH/s) and 12,000 S19j Pro Antminers (100 TH/s).
Riot plans to deploy the next-generation miners between May through October 2021.
Riot expects the mining rigs will rise the company’s current 2.3EH/s of hashrate a great deal. The company also notes that at full capacity, the business will command an aggregate total of 37,640 bitcoin miners.
“Riot estimates its total operational hash rate capacity will be 3.8EH/s and consume approximately 120MW of energy,” Riot detailed on Monday. “As a result, [Riot] expects to have an aggregate mining efficiency of 31.79±% 5 joules per terahash (J/TH).”
Jeff McGonegal, CEO of Riot noted that the “continued growth in deployed miners is paramount to a miner’s success.”
“Expanding the Company’s bitcoin mining hash rate and operating on a cost-effective basis is very important, particularly during periods when the bitcoin spot price has appreciably increased,” McGonegal detailed. “We are pleased to have secured this latest purchase, especially given that the available supply of mining hardware continues to become increasingly scarce.”
According to the firm all the miners bought are done with working capital, and Riot claims to have no long-term debt. Riot’s latest purchase is among the several big mining rig purchases in 2020, where institutional buyers such as Riot, Core Scientific, Marathon, and others have ruled the roost.
This purchases has invoked some bitcoin mining rig models to sell out very quickly and push retail buyers to secondary markets. For example, Bitmain’s shop currently has next-gen Antminer devices for sale, but people have to settle for a “futures order.”
After the Riot Blockchain revealed its Antminers buying, Irene Gao, Antminer Sales Director of NCSA Region Bitmain, said that the Antminer 19 series “enjoys a wide popularity in the global markets.”