Riot Blockchain tripled production this year and is hoarding $194M in Bitcoin
Public mining firm Riot Blockchain has more than tripled its year-to-date Bitcoin production.
Production for September has more than quadrupled year-over-year, with Riot mining generating 406 Bitcoin last month compared to 91 BTC for September 2020. As of Sept. 30, 2021, Riot was in possession of 3,534 Bitcoin ($194.4 million). The firm says that it mined every Bitcoin it owns.
Riot claims it now boasts a deployed fleet of roughly 25,646 miners representing a total hash rate capacity of 2.6 exahashes per second (EH/s). Riot expects to have deployed an additional 2,000 Bitmain Antminer S19Js by early November, forecasting a total hashing power of 2.8 EH/s once the new units are operational.
Despite Riot’s strong September performance, the firm did not sell any of its newly mined Bitcoin. Riot’s accumulation caught the attention of MicroStrategy CEO Michael Saylor, who tweeted:
Riot also notes that construction of its recently acquired Whinstone Facility in Texas is making “around the clock” progress, predicting that the facility’s fourth 100 MW power transformer substation will have been installed by December.
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