Riot Blockchain starts up 3000 Antminer S17 Pro miners

Riot Blockchain has announced that it has launched 3000 Antminer S17 Pro miners. The equipment was purchased from Bitmain and is installed on the Oklahoma City farm.

In mid-December 2019, Riot announced the purchase of a 1,000 S17 Pro Antminers installment. They are due to be delivered at the end of January. The company paid about $ 1,350 / miner, representing a total investment of $ 1.35 million.

Riot Blockchain on the Nasdaq Stock Exchange

Riot Blockchain is one of the few crypto mining companies listed on the Nasdaq stock exchange. In December 2019, the company announced a plan to acquire 4,000 Antminer S17 Pro miners for approximately $ 6.35 million. In the coming weeks, Riot decided to uninstall about 7,500 Antminers S9 miners to make room for new acquisitions.

Riot anticipates that, following the commissioning of all 4,000 miners, the hash power of the Oklahoma City farm will reach approximately 248 PH / S. This represents a 240% increase in the hash power of the farm. The 4000 Antimers S17 Pro miners will represent approximately 90% of its current capacity.

In April 2019, Riot applied for SEC approval to launch a crypto exchange called RiotX in the US. Unfortunately, the company has not yet implemented this plan.

The Bitcoin mining industry continues to grow, with the hash rate reaching record highs in recent months. Many companies have started to open large capacity mining farms in the US in recent months. For example, Northern Bitcoin AG will launch a farm in Rockdale, Texas with an initial capacity of 300 megawatts, which will reach 1 gigawatt by the end of 2020.