Riot Blockchain Quadrupled Its BTC Production In September – 406 Bitcoins

Key facts:
  • Riot claims they have a deployed fleet of at least 25,646 mining machines.

  • The development of Whinstone, a mining plant under development, continues as planned.

Bitcoin (BTC) mining company Riot Blockchain, reported this week that it quadrupled its production in September 2021, when they managed to mine 406 BTC. This represents a 346% rise compared to what was registered in the same period of 2020, when only 91 BTC were mined.

In a Press release published on its blog, the company, which is listed on Nasdaq, indicated that, so far this year and until September, they have produced a total of 2,457 BTC, an increase of 236% over the same period last year (731 BTC).

They further indicate that, as of September 30, they had approximately 3,534 bitcoins in their reserves, all of which were mined by themselves.

They clarify that, right now, they have a deployed fleet of at least 25,646 mining machines that have a 2.6 exahash per second (EH / s) capacity.

Riot advances in new farm to mine Bitcoin

On the other hand, Riot Blockchain referred to the advances in its Whinstone US farm, a bitcoin mining facility located in Rockdale, Texas, United States, that it acquired in recent months.

The company indicates that the development of the infrastructure remains as scheduled, with construction underway 24 hours a day. In fact, and as of September 30, at least three 100-megawatt (MW) transformer substations have been installed in the place and a fourth, of the same capacity, is scheduled for next November.

Riot explains that, in general terms, the construction of a first building, which they call “D”, is 50% advanced, with 2,600 kVA transformers. The same with another building, called “F”, which has been erected 25%, with 40% of its underground infrastructure and foundations already completed.

Thus, Riot Blockchain expects that, by the fourth quarter of 2022, they will reach a net capacity of automatic extraction of 7.7 EH / s, provided that the deployment of the 81,150 mining equipment they acquired from the Chinese manufacturer Bitmain.

“Upon full deployment, the company’s total autonomous mining fleet is expected to use approximately 257 MW of power, with approximately 206 MW deployed at Riot’s Whinstone facility and approximately 51 MW currently deployed at Coinmint, LLC facilities.” , they end.

It is to be remembered that, in April, Riot bought Whinstone US, which is the operator of the BTC hosting and mining facility. largest in North America, as we reported in CriptoNoticias.

Whinstone US was acquired by Riot Blockchain for $ 80 million in cash, and 11.8 million common shares of the mining company, which, at the time, were worth $ 48.37 each. Thus leaving the final price of Whinstone US in a total of 651 million dollars.

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