Riot Blockchain Orders $17.7M Price of Bitmain’s Latest Antminer Models

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

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

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The New Antminer Models Will Assist Riot Attain Its Hash Price Objective of ‘1 EH/s by Early 2021’

“We’re glad to proceed and broaden our cooperation with Riot. Riot is a long-term buddy of ours, and now we have witnessed and assisted them build up a strong mining operation in North America,” mentioned Irene Gao, Bitmain’s Antminer Gross sales Director of NCSA Area.

Irene Gao, Bitmain’s Antminer Gross sales Director of NCSA Area.

“[…] We imagine this new buy assistance will Riot broaden a number one place available in the market and fulfill their enterprise imaginative and prescient, which we’re very happy to be and proceed being a part of,” she added.

In line with the weblog publish, the Antminer S19 Professional, which was launched earlier this yr, has a hash charge of 110 TH/s and an influence effectivity of 29.5±%5 J/TH.

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Jeff McGonegal, chief govt of Riot Blockchain, commented that the brand new Antminer models will assist Riot attain its hash charge purpose of ‘1 EH/s by early 2021’.

“Sourcing {hardware} will be exceptionally difficult throughout the present pandemic and on this financial local weather,” McGonegal mentioned.

Jeff McGonegal, chief govt of Riot Blockchain.

Nonetheless, the brand new buy deal has set the corporate on monitor to exceed its objectives: “Bitmain supplied us with distinctive service in a path in direction of attaining our purpose, and due to their strong provide chain we’re scheduled to exceed it.”

A Energy Wrestle Rages on on the Coronary heart of Bitmain

The information of Riot’s buy settlement carefully 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 Professional ASIC Miners. The deal was value roughly $23 million. 

The brand new buy agreements are excellent news for Bitmain, which has had some points with its management over the yr.

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

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