Fort Rock, CO, Jan. 19, 2021 (GLOBE NEWSWIRE) — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot”, “Riot Blockchain” or the “Firm”), one of many few NASDAQ-listed bitcoin mining corporations in america, proclaims receipt and deployment of two,500 Bitmain S19 Professional Antminers as a part of the acquisition settlement disclosed in October 2020. The newly obtained miners are at present being deployed and set up is anticipated to be accomplished over the subsequent week. As soon as the S19 Professional Antminers are absolutely deployed, Riot may have a complete of 9,540 Antminers in operation with a hash charge capability reaching an estimated 842 petahash (“PH/s”), representing an almost 50% enhance in operational hash charge capability.
This cargo will broaden the Firm’s mining fleet working at Coinmint LLC’s (“Coinmint”) facility in Massena, New York as a part of a internet hosting relationship between the 2 corporations. Riot has considerably decreased its power and direct operational prices since relocating its miners to Coinmint, aided by the extent of extra renewable power accessible within the Massena space. The Coinmint facility attracts a good portion of its power from hydroelectric sources and the annual common era value has been roughly 1.4 cents per kilowatt-hour (“kWh”) internet of distribution associated prices.
Ashton Soniat, CEO of Coinmint acknowledged, “Coinmint was designed particularly to fulfill the wants of institutional miners reminiscent of Riot, and we’re happy to assist this continued relationship. These miners, and roughly 13,000 extra anticipated to be delivered by the primary half of 2021, will be part of their sizeable deployment already on-site – and make Riot one of many largest hash charge producers worldwide.”
Riot has an extra 28,100 S19 and S19j Professional Antminers on order which can be scheduled for cargo on a month-to-month foundation by October 2021. As soon as absolutely deployed, the Firm estimates it should have a complete of 37,640 Bitmain Antminers in operation with an estimated mixture bitcoin mining hash charge capability of three.8 Exahash (“EH/s”). The preliminary January 2021 supply of roughly 1,400 S19 Professional Antminers, of the miners ordered has been shipped as scheduled, and is anticipated to be delivered and start deployment this week.
“Riot’s scheduled deployment of miners below contract so far, has our operational hash charge capability increasing to 1.3 EH in Q1 – 2021; 2.4 EH in Q2 – 2021; 2.8 EH in Q3 -2021 and three.8 EH in This fall – 2021,” stated Jeff McGonegal, CEO of Riot. “The worth of bitcoin not too long ago exceeding $41,000 has resulted in a dramatic rise in values attributed to bitcoin mining enterprises, whereas additionally accelerating aggressive enlargement within the business and better acquisition prices for more and more scarce miners. As Riot evaluates its technique for 2021 and past, we’re very excited and targeted on the numerous alternatives created by present market circumstances, but in addition aware of the potential impacts on our enterprise that the extremely risky bitcoin pricing traits can have on operations and values, mixed with aggressive, market and regulatory elements that should be monitored and regarded.”
About Coinmint, LLC
Coinmint was established in 2016 to offer mining and co-hosting providers to massive scale cryptocurrency miners. Coinmint’s Massena, New York facility affords 435 megawatts of transformer capability, making it among the many largest recognized working digital foreign money knowledge heart in North America. Given the abundance of hydroelectric and wind energy era within the space, the expertise of its administration group in wholesale electrical energy markets, and the big capability, Coinmint has a cloth electrical financial benefit over different operations. For extra info, go to www.coinmint.one.
About Riot Blockchain
Riot Blockchain (NASDAQ: RIOT) focuses on cryptocurrency mining of bitcoin. The Firm is increasing and upgrading its mining operations by securing probably the most power 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 main mining facility operates out of upstate New York, below a co-location internet hosting settlement with Coinmint. For extra info, go to www.RiotBlockchain.com.
The data supplied on this press launch might embody 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 might differ materially from these expressed or implied by such forward-looking statements. Phrases reminiscent of “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and related expressions are supposed to establish forward-looking statements. These forward-looking statements are primarily based upon present expectations of the Firm and contain assumptions which will by no means materialize or might show to be incorrect. Precise outcomes and the timing of occasions might differ materially from these anticipated in such forward-looking statements because of varied dangers and uncertainties. Detailed info relating to elements 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 Securities and Alternate Fee, together with the elements described within the sections entitled “Danger Components,” 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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