Seeking Alpha
2020-06-03 20:57:21

Riot Blockchain buys more miners

Riot Blockchain (RIOT) purchases an additional 1,000 Bitmain S19 Pro Antminer for $2.3M.Riot funded the acquisition with available working capital and has no long-term debt.By Q4, without any further miner purchases, Riot estimates its aggregate operating hash rate will be ~567 petahash per second (PH/s), consuming 14.2 megawatts of power, assuming full deployment of the total 7,040 next-generation miners.This would represent an estimated 467% over Riot's average mining hash rate as of late 2019 and an efficiency rating of 38.6 joules per terahash ("J/TH") versus 98 J/TH in 2019. Expects the additional S19 Pro and S19 3,040 miners will be deployed in H2 2020 and are estimated to represent more than 56% of Riot's total hashing capacity.

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