Home Crypto News Riot Blockchain Orders $17.7M Worth of Bitmain’s Newest Antminer Units

Riot Blockchain Orders $17.7M Worth of Bitmain’s Newest Antminer Units

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Cryptocurrency mining {hardware} large Bitmain has introduced that Riot Blockchain can be buying 8,000 Bitmain Antminer S19 Pros, a deal value $17.7 million. Riot Blockchain, which is headquartered in Castle Rock, Colorado, is described within the publish as “one of the few Nasdaq-listed cryptocurrency mining companies.”

The announcement got here in a weblog publish on Bitmain’s web site. The publish additionally defined that Bitmain will ship 2,000 S19 Pros every month beginning in January 2021 and persevering with via April 2021 till the order is full.

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The new Antminer items will assist Riot attain its hash fee objective of “1 EH/s by early 2021”

“We are glad to continue and expand our cooperation with Riot. Riot is a long-term friend of ours, and we have witnessed and assisted them building up a powerful mining operation in North America,” stated Irene Gao, Bitmain’s Antminer Sales Director of NCSA Region.

Irene Gao, Bitmain’s Antminer Sales Director of NCSA Region.

“[…] We believe this new purchase help will Riot expand a leading position in the market and fulfill their business vision, which we are more than happy to be and continue being part of,” she added.

According to the weblog publish, the Antminer S19 Pro, which was launched earlier this 12 months, has a hash fee of 110 TH/s and an influence effectivity of 29.5±%5 J/TH.

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Jeff McGonegal, chief government of Riot Blockchain, commented that the brand new Antminer items will assist Riot attain its hash fee objective of “1 EH/s by early 2021.”

“Sourcing hardware can be exceptionally challenging during the current pandemic and in this economic climate,” McGonegal stated.

Jeff McGonegal, chief government of Riot Blockchain.

However, the brand new buy deal has set the corporate on monitor to exceed its objectives: “Bitmain provided us with exceptional service in a path towards achieving our goal, and because of their robust supply chain we are scheduled to exceed it.”

An influence wrestle rages on on the coronary heart of Bitmain

The information of Riot’s buy settlement intently follows the information that Marathon Patent Group, Inc., one other Nasdaq-listed cryptocurrency mining firm, entered right into a long-term buy contract with Bitmain for 10,500 Antminer S-19 Pro ASIC Miners. The deal was value roughly $23 million. 

The new buy agreements are excellent news for Bitmain, which has had some points with its management all year long.

Two weeks in the past, Finance Magnates reported that Bitmain could be delaying its shipments by as much as three months as the facility tussle between its co-founders, Jihan Wu and Micree Zhan Ketuan, continued to rage on. Wu and Zhan have been in a extremely publicized energy wrestle for management of the corporate all through 2020.

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