Riot Blockchain, a Nasdaq-listed cryptocurrency mining company, has recently announced its acquisition of the latest generation of miners from MicroBT, a leading manufacturer of Bitcoin mining equipment. This move is expected to significantly enhance Riot’s mining capacity and improve its operational efficiency.
The acquisition includes 15,000 Antminer S19 Pro miners, which are considered to be the most powerful and energy-efficient Bitcoin miners currently available in the market. These miners are capable of producing a hash rate of up to 110 terahashes per second (TH/s) with a power consumption of only 29.5 watts per terahash (W/TH). This means that they can mine Bitcoin at a much faster rate while consuming less energy compared to older generation miners.
With the addition of these new miners, Riot’s total mining capacity is expected to increase by 65% to reach approximately 1.45 exahashes per second (EH/s). This will make Riot one of the largest Bitcoin mining companies in North America and position it for further growth in the future.
The acquisition is part of Riot’s ongoing efforts to expand its mining operations and improve its profitability. The company has been investing heavily in new mining equipment and infrastructure to increase its hash rate and reduce its operating costs. It has also been exploring alternative sources of energy, such as renewable energy, to power its mining operations and reduce its carbon footprint.
According to Riot’s CEO, Jason Les, “This purchase is another milestone for Riot in building out our state-of-the-art mining operation. We are proud of this accomplishment and remain focused on continuing to evaluate opportunities in the space.”
The acquisition is also a significant development for MicroBT, which has been rapidly gaining market share in the Bitcoin mining equipment industry. The company has been challenging Bitmain, the dominant player in the market, with its high-performance and cost-effective miners. The partnership with Riot is expected to further boost MicroBT’s reputation and market position.
In conclusion, Riot’s acquisition of the latest generation of miners from MicroBT is a significant development in the Bitcoin mining industry. It demonstrates the growing demand for high-performance and energy-efficient mining equipment and the increasing competition among manufacturers. It also highlights the importance of continuous innovation and investment in the mining sector to remain competitive and profitable.
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- Source: Plato Data Intelligence.