The American listed mining company Riot Blockchain said that bitcoin production has more than tripled since the beginning of the year compared to 2020.

According to the October 6 announcement, Riot took 2,457 BTC (approximately $ 135 million) during 2021, an increase of 246% over the same period last year.

September production more than quadrupled from the same period last year, with Riot Mining producing 406 bitcoins last month, up from 91 BTC in September 2020. As of September 30, 2021, Riot had 3,534 bitcoins ($ 194.4 million). The company claims to have extracted every bitcoin it owns.

Riot currently claims to have a deployed fleet of approximately 25,646 miners, which corresponds to a total throughput of 2.6 Exahs per second (EH / s). Riot plans to distribute 2,000 more Bitmain Antminer S19Js by the beginning of November and expects a total hash effect of 2.8 EH / s when the new devices are up and running.

Another 4,000 Antminer S19Js will be shipped from Bitmain’s Malaysian facility in late October.

Despite Riot’s strong results in September, the company has not sold any of the newly extracted bitcoins. The Riot lag caught the attention of Michael Saylor, CEO of MicroStrategy, who tweeted:

“#Bitcoin listed miners do not sell bitcoins, they collect bitcoins. The game has changed.”
Riot also indicated that construction of the newly acquired Whinstone Texas plant is underway “around the clock,” with a fourth 100-megawatt transformer station expected to be installed in December.

Looking ahead, Riot expects Riot to have a hash speed of 7.7 EH / s by the fourth quarter of next year and have over 81,000 Antminers by then.

Related: This is why Bitcoin Mining Stocks surpasses the BTC price in 2021

Riot is not the only listed miner to report strong September results, as rival Marathon Digital Holdings announced on October 4 that it had mined 340.6 BTC in one month.

Marathon achieved 91% quarterly mining growth, and the company extracted 1,252.4 bitcoins (approximately $ 69 million) in the third quarter of 2020. Marathon estimates that it has a fleet of 25,272 miners representing the overall hash rate. This is 2.7 EH / s.

In October, Marathon also secured a $ 100 million line of credit from Silvergate Bank.

Marathon shares are up 254% YTD to about $ 39, while Riot is up 61.5% from $ 16.48 to $ 26.61 over the same period.

Source: CoinTelegraph

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