Riot Blockchain to buy another 5,100 Bitcoin miners from Bitmain for $11.2 million

Nasdaq-listed American mining company Riot Blockchain announced a new contract with Bitmain to purchase 5,100 Antminer S19 Pro devices for $11.2 million.

Delivery of the Bitcoin miners is scheduled for February 2021.

Thanks to the new order, Riot secured an additional volume discount and will pay $17.5 million instead of $17.7 million for 8,000 units of Antminer S19 Pro under the previous agreement.

As a result of the equipment deliveries under both contracts, the company should deploy 13,100 flagship Bitmain ASICs in the first half of 2021.

Riot expects that by then the total number of operating ASIC miners will reach 20,140 units, the vast majority of which will be S19 Pro. The hash rate generated by the company’s equipment would theoretically exceed 2 EH/s. This accounts for about 1.6% of the Bitcoin network’s total hashrate of 124 EH/s at the time of writing (BitinfoCharts).

Earlier, another Nasdaq-listed mining company—Marathon Patent Group—signed a contract with Bitmain to purchase 10,500 units of S19 Pro for $23 million.

As BitMEX Research experts note, the S19 Pro slightly outperforms the competitor Whatsminer M30S+ from MicroBT.

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