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Bitmain Technologies Inc. said on Monday that Nasdaq-listed Riot Blockchain is buying 8,000 of its Antminer S19 Pro bitcoin miners in a deal worth $ 17.7 million.
In a blog post, the Chinese cryptocurrency mining hardware maker said the machines will be delivered in batches of 2,000 in four consecutive months starting in January 2021.
“We are delighted to continue and expand our partnership with Riot. Riot is a longtime friend of ours and we have assisted and assisted them in building a powerful mining operation in North America, ”said Irene Gao, Bitmain’s Antminer Sales Director for the NCSA region.
“We believe this new purchasing aid will enable Riot to expand a market leadership position and fulfill its corporate vision, which we are more than happy to be and continue to be a part of,” he added.
The Antminer 19 series uses Bitmain’s latest generation of Application Specific Integrated Circuits (ASICs) SHA256, making it more energy efficient than previous models from the Beijing-based entity.
Specifically, the Antminer S19 Pro, which was released earlier this year, comes with a hashrate of 110 terahash per second (TH / s) and an energy efficiency of 29.5 joules per terahash (J / TH). At a price of $ 2,407, the miner isn’t particularly cheap compared to other competing machines in its range.
However, the S19 Pro is currently the most profitable bitcoin miner on the market, generating up to $ 5.79 in profit every day, according to data from F2pool, a global BTC mining network. Microbt’s Whatsminer M30S ++, which boasts a hashrate of 112 TH / s and an energy efficiency of 31 J / TH, makes a daily profit of $ 5.70.
Jeff McGonegal, CEO of Riot Blockchain, said the new Antminer units will help the Colorado-based company meet the hashrate goal of 1.45 exahash per second (EH / s) on 47 megawatts of electricity “by l beginning of 2021 “.
“… Procuring hardware can be exceptionally challenging during the current pandemic and in this economic climate. Bitmain has provided us with exceptional service on a path towards achieving our goal and thanks to their robust supply chain we are programmed to surpass that, ”he said.
Riot Blockchain currently operates more than 15,000 Bitmain bitcoin miners, including older Antminer S17 Pro machines. Its order follows another from Marathon Patent Group earlier this month, which is buying $ 23 million of the S19 Pro BTC miner from Bitmain. . Another US company, Core Scientific, bought 17,600 machines from the Chinese company in June.
What do you think of US companies aggressively buying new bitcoin miners? Let us know in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
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