In an announcement on Monday, Riot Blockchain revealed that they produced 187 bitcoins (BTC) last month – almost $ 11.2 million, up 80% from mining in March 2020. As of March 31, it represents more than $ 94 million in cryptocurrency.
The mining report came after Riot bought 42,000 S19j Antminer miners from the crypto-mining giant Bitmain for $ 138 million. Almost 6% of the rigs – 2400 Antminers – are already on their way to the Coinmint plant in New York, where Riot carries out part of the mining operations. At the end of April, Riot announced that they had 16,146 working antminers capable of producing 1.6 exits per second.
Riot expects hashpower to grow exponentially as the number of Antminer employees increases. At the end of the year, the miner expects to achieve a hash speed of 3.8 EH / s, while a total fleet capacity of 81,146 Antminers, which is expected to be fully operational by the 4th quarter of 2022, can result in a hash speed of 7.7 EH. / Second. According to blockchain data, this represents over 4% of the hash rate for the entire Bitcoin network, approximately 171 million terashash per second at the time of publication.
Riot also plans to acquire a major mining facility in Texas. The company said last week that it would buy Northern Data’s Whinstone for $ 650 million. The agreement appears to allow Riot to operate its 750 MW Texas excavators with an additional 300 MW expansion plan.