Riot Blockchain Purchases 1,040 More Bitmain Miners

Join Our Telegram channel to stay up to date on breaking news coverage

Riot Blockchain, a platform “focused on building, supporting and operating Blockchain technologies,” has purchased 1,040 Bitmain S19 Antmiers for $1.9 million. This is on top of the group’s 1,000 purchased on April 30 of this year, according to a press release from the group.

Once these are all ready and deployed out, Riot claims it will be able to increase its hashrate over 80% to around 457 petahashes per second. This should take up around 16.5 megawatts of energy.

Ideally, the goal here is to be more energy-efficient than Bitcoin’s previous ASIC miners. “The May 6th purchase of 1,040 Bitmain S19 Antminers boast a hash rate of 95 TH/s and an energy efficiency of 34.5±% 5 joules per terahash (J/TH),” the release notes.

As InsideBitcoins has previously reported on, Riot Blockchain was also in the news for partnering with Coinmint to “positively impact its power costs.” Riot, which is a Nasdaq listed mining company in the United States, will be bringing some of these miners over to a facility provided by Coinmint. It’s because of this that the group will save both money and power.

Riot has also been keeping an eye on the coronavirus situation, and plans to continue doing so:

“As published in its previous disclosures, Riot is continuing to closely monitor COVID-19 and its potential impact on the Company’s workforce, operations, finance and liquidity. To date, the impact has remained minimal.”

Read more: 

  • Report: Bitmain Files a Confidential IPO Application with U.S SEC

Join Our Telegram channel to stay up to date on breaking news coverage

Comments

Post a Comment

Popular posts from this blog

Bitcoin Mining Pool Btc.com Suffers $3 Million Cyberattack

A major cryptocurrency mining pool has been hit by hackers earlier this month, the company who owns the pool revealed in an announcement. The incident resulted in the theft of digital assets belonging to the pool and its clients worth a combined total of $3 million. Chinese Authorities Launch Investigation Into Crypto Mining Pool Hack A subsidiary of the coin minting company Bit Mining has been targeted in a hacking attack , the company said in a press release. The affected entity is a leading bitcoin mining pool, Btc.com, which in the past week accounted for over 2.5% of the pool distribution and has a share exceeding 4% on annual basis. According to the announcement published Monday, Dec. 26, the platform was hit on Dec. 3, 2022. As a result, $2.3 million worth of digital assets owned by the company and another $700,000 in asset value belonging to its clients were stolen. The cyber attack has been reported to law enforcement in Shenzhen, China on Dec. 23. The Chinese aut...
Read more

Blockchain.com and TON Foundation introduce Toncoin incentive program

Image
Zug, Switzerland, October 18th, 2023, Chainwire Today, The Open Network Foundation ( TON Foundation ), the non-profit Swiss organization working towards growing a Web3 ecosystem within Telegram, has announced a collaborative endeavor with Blockchain.com, one of the world's most trusted and popular platforms for retail customers and institutions to buy, sell, and trade cryptocurrency.  Through this collaboration, Blockchain.com and TON Foundation will make crypto more accessible for the over 800 million monthly active users on Telegram. In September 2023, TON Space, the TON-based self-custody cryptocurrency wallet developed by the team behind Wallet, was made available in the Telegram settings menu for existing users of Wallet outside of the United States. Starting in November 2023, TON Space will be available by default in the Telegram menu for all Telegram users outside the United States. All existing and new Telegram users, excluding those in the United States, will be able to ac...
Read more

Flare (FLR) airdrops 15% of total supply to XRP holders before correcting by 76%

Image
After a 2-year wait, the layer-1 Flare blockchain has finally followed through and sent its tokens to those who held XRP at the time of the snapshot. The Flare (FLR) token Airdrop started on Mon., Jan. 9, nearly two years after a snapshot of Ripple (XRP) holders took place on Dec. 12, 2020. The FLR Airdrop was distributed at a ratio of 1.0073 FLR per 1 XRP and the initial distribution saw 15% of the total supply released to the community. A total of 28.5 billion FLR were distributed based on this methodology and according to Flare’s tokenomics, 58.3% of the total genesis FLR supply will be distributed over 36 months. Flare initial token distribution allocation. Source: Flare What is Flare? Flare is a Layer-1 Blockchain with an oracle system aiming to boost interoperability amongst decentralized applications (DApps) and blockchains. While the token only recently launched, the protocol launched its mainnet on July 11, 2022. To date, the Flare mainnet has already processed over 70 mi...
Read more