Fort Rock, CO, March 15, 2021 (GLOBE NEWSWIRE) — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot”, “Riot Blockchain” or the “Firm”), one of many main Nasdaq listed public bitcoin mining corporations in the US, broadcasts an operations replace that features unaudited bitcoin (“BTC“) manufacturing replace by February 2021 and up to date miner acquisition and supply exercise.
- The Firm produced 302 newly mined BTC throughout This autumn 2020 and 1,005 newly minted BTC through the 12 months ended December 31, 2020.
- January 2021 – the Firm produced 125 newly mined BTC, a rise of 23% over December 2020 manufacturing.
- February 2021 – the Firm produced 179 newly mined BTC, a rise of 43% over January 2021 manufacturing.
The present international scarcity of ASIC mining tools has held the present network-wide hash fee at decrease ranges, making a useful mining atmosphere for miners at present working, particularly these working at scale. Future adjustments in network-wide problem fee or hash fee will impression all BTC miners, together with Riot, of their manufacturing of BTC.
The Firm at present plans to offer recurring month-to-month operational updates and unaudited manufacturing outcomes by the tip of 2021. These manufacturing updates are meant to maintain shareholders knowledgeable of Riot’s substantial operational progress because it continues to deploy its increasing mining fleet.
New Miner Acquisitions
The Firm is happy to announce the acquisition of 1,500 S19j (90 TH) Professional Antminers from Bitmain Applied sciences Restricted (“Bitmain”), that are scheduled for supply in October 2021. As soon as deployed, these 1,500 miners, mixed with the extra 25,400 miners scheduled to be obtained throughout 2021 beneath beforehand introduced buy orders, are anticipated to realize an estimated mixture bitcoin mining hash fee capability of 4.0 EH/s. The combination of those miners will make the most of roughly 127 MW of vitality with an total estimated operational effectivity of roughly 32.38 ±% 5 joules per terahash (J/TH). The Firm is constantly monitoring alternatives for strategic hash fee progress.
Latest Miner Deliveries
In reference to earlier buy orders introduced, 2,201 S19 Professional Antminers have been shipped late February 2021 and are within the means of being obtained on the Coinmint, LLC facility in Massena, NY, with set up anticipated to be accomplished over the following week. This supply outcomes from the acquisition order with Bitmain beforehand disclosed in August 2020.
The deployment of those 2,201 S19 Professional Antminers, will lead to a complete of 13,746 Antminers in operation using roughly 43 MW of vitality, along with an estimated hash fee capability of 1.3 EH/s.
Hash Price Development
Riot has an extra 25,400 S19 Professional and S19j Antminers on order with Bitmain, that are scheduled for month-to-month deliveries by October 2021. As soon as totally deployed, the Firm estimates it can have a complete of 39,146 Bitmain Antminers in operation with an estimated mixture bitcoin mining hash fee capability of 4.0 EH/s. Primarily based on latest shipments, Riot anticipates continued well timed shipments in accordance with the Bitmain buy orders.
“Riot’s operational hash fee capability has been rising considerably as demonstrated in our month-to-month mining manufacturing outcomes”, mentioned Jason Les, CEO of Riot. “We’re enthusiastic about our dedicated growth, considerably growing our operational hash fee capability.”
The Firm’s 2020 Annual Report on Kind 10-Ok is at present anticipated to be filed previous to the March 31, 2021 SEC deadline.
About Riot Blockchain
Riot Blockchain (NASDAQ: RIOT) focuses on cryptocurrency mining of bitcoin. The Firm is increasing and upgrading its mining operations by securing essentially the most vitality environment friendly miners at present accessible. Riot additionally holds sure non-controlling investments in blockchain expertise corporations. Riot is headquartered in Fort Rock, Colorado, and the Firm’s mining facility operates out of upstate New York, beneath a co-location internet hosting settlement with Coinmint. For extra info, go to www.RiotBlockchain.com.
The data supplied on this press launch could 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 could differ materially from these expressed or implied by such forward-looking statements. Phrases comparable to “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and comparable expressions are meant to determine forward-looking statements. These forward-looking statements are based mostly upon present expectations of the Firm and contain assumptions which will by no means materialize or could show to be incorrect. Precise outcomes and the timing of occasions may differ materially from these anticipated in such forward-looking statements because of numerous dangers and uncertainties. Detailed info concerning components which 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 U.S. Securities and Trade Fee (the “SEC”), together with the components described within the sections entitled “Threat Elements,” 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.
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