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Bitmain inks $17.7 million dollar deal with Riot Blockchain for next-gen bitcoin mining hardware

Bitcoin mining hardware giant Bitmain said Monday that it signed a $17.7 million deal with Riot Blockchain, a publicly-traded company that mines bitcoin, to purchase "8,000 next generation Bitmain Antminer S19 Pros."

According to a press statement published by Bitmain, the agreement entails " a defined delivery schedule of 2,000 S19 Pros per month starting in January 2021 and continuing through April 2021 until the order is complete." A previous statement from Riot estimated that the new batch of miners would arrive sometime in November.

"The newly announced order of 8,000 S19 Pro (TH/s) miners are expected to be received and deployed during the first four months of 2021 and are expected to raise Riot's total operational hash rate capacity to 1.45 EH/s (1,446 PH/s). Riot expects to then have a fully deployed fleet totaling approximately 15,040 miners," the firm said.


© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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