Riot Blockchain, a crypto mining company listed on the Nasdaq exchange, has signed another deal with Chinese mining giant Bitmain to buy 15,000 Antminer miners. According to the December 21 announcement, the Colorado-based company expects the new acquisition to contribute 65% of the total Bitcoin mining hashrate (BTC).

The purchase price from Riot is $ 35 million, including 3,000 S19 Pro Antminers and 12,000 S19j Pro Antminers. The company expects to receive and distribute new miners from May 2021 to October 2021.

With the latest acquisition, Riot has expanded its mining hardware from Bitmain as the company regularly received and distributed new miners in 2020. Riot estimates that with more than 37,000 miners fully distributed, the overall speed will increase. From 2.3 EH / s to 3.8 EH / s, it consumes about 120 MW of power.

Riot CEO Jeff McGonegal said the continued growth in the number of deployed miners “is critical to the success of the miner,” adding, “Expanding the hash rate of bitcoin mining and profitable performance are very important, especially during periods when the Bitcoin site has significantly increased the price.”

As part of a partnership with Riot, Bitmain supplied the latest Antminer miners to a US company. In October 2020, the companies announced an agreement for 2,500 Antminer S19 Pros plus the previous group of 5100 Antminers and another agreement for 8,000 Antminers in September.

Bitmain, one of the world’s largest cryptographic hardware providers, is heavily involved in the North American market. In September 2020, Bitmain announced that Core Scientific mines will be the first co-repair center in North America. Bitmain previously partnered with Foundry, a wholly owned subsidiary of the cryptocurrency group. As part of the partnership, Foundry intends to provide funding to Bitmain’s end customers in the market.

Source: CoinTelegraph

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