The corporate stated it held greater than $94 million in crypto as of March 31, all from Bitcoin it has mined.
In an announcement as we speak, Riot reported that it had produced 187 Bitcoin (BTC) — roughly $11.2 million — final month, an 80% enhance over its BTC mining in March of final 12 months. The corporate stated it held greater than 1,565 Bitcoin on its stability sheet as of March 31, greater than $94 million in crypto.
The mining report follows Riot’s $138 million buy of 42,000 S19j Antminers from crypto mining large Bitmain. Roughly 6% of the rigs — 2,400 Antminers — are reportedly already on path to Coinmint’s facility in New York, the place Riot runs a portion of its mining operations. By the tip of April, Riot claims it should have 16,146 Antminers in operation able to producing 1.6 exahashes per second, or EH/s.
As extra of the Antminers are put into operation, Riot expects its hashing energy to rise considerably. By the tip of this 12 months, the mining agency expects to attain a hash fee capability of three.8 EH/s, whereas the entire fleet capability of 81,146 Antminers — anticipated to be absolutely operational earlier than the fourth quarter of 2022 — might produce a hash fee of seven.7 EH/s. Based on blockchain knowledge, this could signify greater than 4% of the hashrate for your complete Bitcoin community, roughly 171 million terahashes per second on the time of publication.
Riot can be reportedly planning to buy a serious mining facility within the state of Texas. The mining agency stated final week that it will purchase the Northern Knowledge-owned Whinstone firm for $650 million. The deal would seemingly enable Riot to run its rigs in Texas with a complete capability of 750 megawatts, with an extra 300 MW growth deliberate.