Riot Blockchain Achieves Milestone of 1 EH/s in Hash Rate Capacity with Receipt and Deployment of 2,002 S19 Pro Antminers
February 11 2021 - 7:45AM
Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot”, “Riot Blockchain”
or the “Company"), one of the few NASDAQ-listed bitcoin mining
companies in the United States, announced that it will achieve an
estimated hash rate capacity of 1.06 Exahash per second (“EH/s”)
with the deployment of the newly received 2,002 S19 Pro
Antminers.
“Exceeding 1 EH/s in hash rate capacity marks a major milestone
for the Company,” said Jason Les, CEO of Riot. “While we are
proud of this accomplishment, we view it as the successful
completion of just one of many steps of our ongoing growth
plan. Riot continues to receive and deploy next-generation
miners from Bitmain and remains on schedule to more than triple our
currently deployed capacity by the fourth quarter of 2021.”
The 2,002 S19 Pro Antminers were received in connection with the
purchase order from Bitmain as previously disclosed in August 2020,
with installation expected to be completed over the next week.
With the deployment of these 2,002 S19 Pro Antminers, Riot
will have a total of 11,542 Antminers in operation. Riot’s
hash rate capacity will reach an estimated 1.06 EH/s, representing
a nearly 26% increase over its prior operational hash rate capacity
upon installation of the new miners.
Riot has an additional 26,100 S19 Pro and S19j Antminers on
order with Bitmain, which are scheduled for shipment each month
through October 2021. Once fully deployed, the Company
estimates it will have a total of 37,642 Bitmain Antminers in
operation with an estimated aggregate bitcoin mining hash rate
capacity of 3.8 EH/s. Based on recent shipments, Riot anticipates
continued timely shipments in accordance with the Bitmain purchase
orders.
About Riot Blockchain
Riot Blockchain (NASDAQ: RIOT) focuses on cryptocurrency mining
of bitcoin. The Company is expanding and upgrading its mining
operations by securing the most energy efficient miners currently
available. Riot also holds certain non-controlling investments in
blockchain technology companies. Riot is headquartered in Castle
Rock, Colorado, and the Company’s mining facility operates out of
upstate New York, under a co-location hosting agreement with
Coinmint. For more information, visit www.RiotBlockchain.com.
Safe Harbor
The information provided in this press release may include
forward-looking statements relating to future events or the future
financial performance of the Company. Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Words such as "anticipates," “believes,” "plans,"
"expects," "intends," "will," "potential," "hope" and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are based upon current
expectations of the Company and involve assumptions that may never
materialize or may prove to be incorrect. Actual results and the
timing of events could differ materially from those anticipated in
such forward-looking statements as a result of various risks and
uncertainties. Detailed information regarding factors that may
cause actual results to differ materially from the results
expressed or implied by statements in this press release relating
to the Company may be found in the Company's periodic filings with
the U.S. Securities and Exchange Commission (the “SEC”), including
the factors described in the sections entitled "Risk Factors,"
copies of which may be obtained from the SEC's website at
www.sec.gov. The Company does not undertake any obligation to
update forward-looking statements contained in this press
release.
PR Contact
Riot Blockchain, Inc.
PR@riotblockchain.com
Investor Contact
Riot Blockchain, Inc.
IR@riotblockchain.com
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