Riot Blockchain Continues to Increase Production Efficiencies and Aggressive Expansion of Bitcoin Hash Rate, Reaching 567 PH/s with Latest Purchase

<p class="canvas-atom canvas-text Mb(1.0em) Mb(zero)–sm Mt(zero.8em)–sm" sort="textual content" content material="Firm additional advances the growth of its mining operations with extra buy of 1,000 next-generation Bitmain S19 Professional Antminers” data-reactid=”12″>Firm additional advances the growth of its mining operations with extra buy of 1,000 next-generation Bitmain S19 Professional Antminers

<p class="canvas-atom canvas-text Mb(1.0em) Mb(zero)–sm Mt(zero.8em)–sm" sort="textual content" content material="CASTLE ROCK, Colo., June three, 2020 /PRNewswire/ — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot” or the “Firm”), one of the few Nasdaq-listed cryptocurrency mining corporations in the USA, has bought an extra 1,000 next-generation Bitmain S19 Professional (110 TH) Antminers for USD $2.three million from BitmainTech PTE. LTD. (“Bitmain”). This buy was funded utilizing accessible working capital and Riot has no long-term debt.” data-reactid=”13″>CASTLE ROCK, Colo., June three, 2020 /PRNewswire/ — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot” or the “Firm”), one of the few Nasdaq-listed cryptocurrency mining corporations in the USA, has bought an extra 1,000 next-generation Bitmain S19 Professional (110 TH) Antminers for USD $2.three million from BitmainTech PTE. LTD. (“Bitmain”). This buy was funded utilizing accessible working capital and Riot has no long-term debt.

Riot Blockchain Logo (PRNewsfoto/Riot Blockchain, Inc.)

Riot Blockchain Brand (PRNewsfoto/Riot Blockchain, Inc.)

<p class="canvas-atom canvas-text Mb(1.0em) Mb(zero)–sm Mt(zero.8em)–sm" sort="textual content" content material="By This autumn 2020, with none additional miner purchases, Riot estimates its combination working hash price to be roughly 567 petahash per second (“PH/s”) consuming 14.2 megawatts of energy, assuming full deployment of the full 7,040 next-generation miners. This may symbolize an estimated 467% over Riot’s common mining hash price as of late 2019 and an effectivity ranking of 38.6 joules per terahash (“J/TH”) versus 98 J/TH in 2019. These new era miners are anticipated to function at almost 467% of the late 2019 hash price, using solely roughly a 50% improve in power consumption.” data-reactid=”26″>By This autumn 2020, with none additional miner purchases, Riot estimates its combination working hash price to be roughly 567 petahash per second (“PH/s”) consuming 14.2 megawatts of energy, assuming full deployment of the full 7,040 next-generation miners. This may symbolize an estimated 467% over Riot’s common mining hash price as of late 2019 and an effectivity ranking of 38.6 joules per terahash (“J/TH”) versus 98 J/TH in 2019. These new era miners are anticipated to function at almost 467% of the late 2019 hash price, using solely roughly a 50% improve in power consumption.

Riot anticipates that the extra S19 Professional (110 TH) & S19 (95 TH) three,040 miners will likely be deployed as acquired within the second half of 2020 and are estimated to symbolize over 56% of Riot’s whole hashing capability.  These miners will likely be deployed at Coinmint’s Massena facility pursuant to the beforehand disclosed internet hosting association that Riot entered as half of its persevering with efforts to considerably lower prices of manufacturing.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(zero)–sm Mt(zero.8em)–sm" sort="textual content" content material="The Might 2020 halving, the third within the community’s historical past, means the mining reward has now been decreased from 12.5 bitcoins per block to 6.25 block rewards. Bitcoin miners proceed to face stress from the halving occasion which occurred in Might 2020, because the occasion immediately affected mining revenues. Mine operators that failed to improve to extra environment friendly mining rigs and / or safe cheaper energy could succumb to the detrimental results of the halving occasion. In 2020, Riot bolstered its confidence in bitcoin by specializing in bitcoin mining and additional investing in a full improve & growth of its mining fleet with the target of rising operational effectivity and efficiency within the post-halving mining setting.” data-reactid=”28″>The Might 2020 halving, the third within the community’s historical past, means the mining reward has now been decreased from 12.5 bitcoins per block to 6.25 block rewards. Bitcoin miners proceed to face stress from the halving occasion which occurred in Might 2020, because the occasion immediately affected mining revenues. Mine operators that failed to improve to extra environment friendly mining rigs and / or safe cheaper energy could succumb to the detrimental results of the halving occasion. In 2020, Riot bolstered its confidence in bitcoin by specializing in bitcoin mining and additional investing in a full improve & growth of its mining fleet with the target of rising operational effectivity and efficiency within the post-halving mining setting.

By advancing on these targets with probably the most power environment friendly miners accessible, Riot has established a extra strategically advantageous place relative to much less environment friendly competitors. Coupled with the distinctive skill to effectively entry the capital markets as a Nasdaq-listed firm, Riot is positioned to function extra successfully post-halving and create worth for its shareholders.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(zero)–sm Mt(zero.8em)–sm" sort="textual content" content material="About Riot Blockchain
Riot Blockchain (NASDAQ: RIOT) makes a speciality of cryptocurrency mining with a deal with bitcoin. Riot additionally holds non-controlling investments in blockchain know-how corporations. Riot is headquartered in Fort Rock, Colorado, and the Firm’s major mining facility is positioned in Oklahoma Metropolis, Oklahoma. For extra info, go to www.RiotBlockchain.com.” data-reactid=”30″>About Riot Blockchain
Riot Blockchain (NASDAQ: RIOT) makes a speciality of cryptocurrency mining with a deal with bitcoin. Riot additionally holds non-controlling investments in blockchain know-how corporations. Riot is headquartered in Fort Rock, Colorado, and the Firm’s major mining facility is positioned in Oklahoma Metropolis, Oklahoma. For extra info, go to www.RiotBlockchain.com.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(zero)–sm Mt(zero.8em)–sm" sort="textual content" content material="Protected Harbor
The knowledge supplied on this press launch could embrace forward-looking statements relating to future occasions or the long run monetary efficiency of the Firm. As a result of such statements are topic to dangers and uncertainties, precise outcomes could differ materially from these expressed or implied by such forward-looking statements. Phrases similar to “anticipates,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and comparable expressions are meant to establish forward-looking statements. These forward-looking statements are based mostly upon present expectations of the Firm and contain assumptions that will by no means materialize or could show to be incorrect. Precise outcomes and the timing of occasions may differ materially from these anticipated in such forward-looking statements because of this of varied dangers and uncertainties. Detailed info concerning components that will trigger precise outcomes to differ materially from the outcomes expressed or implied by statements on this press launch relating to the Firm could also be discovered within the Firm’s periodic filings with the Securities and Alternate Fee, together with the components described within the sections entitled “Threat Components,” copies of which can be obtained from the SEC’s web site at www.sec.gov. The Firm doesn’t undertake any obligation to replace forward-looking statements contained on this press launch.” data-reactid=”31″>Protected Harbor
The knowledge supplied on this press launch could embrace forward-looking statements relating to future occasions or the long run monetary efficiency of the Firm. As a result of such statements are topic to dangers and uncertainties, precise outcomes could differ materially from these expressed or implied by such forward-looking statements. Phrases similar to “anticipates,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and comparable expressions are meant to establish forward-looking statements. These forward-looking statements are based mostly upon present expectations of the Firm and contain assumptions that will by no means materialize or could show to be incorrect. Precise outcomes and the timing of occasions may differ materially from these anticipated in such forward-looking statements because of this of varied dangers and uncertainties. Detailed info concerning components that will trigger precise outcomes to differ materially from the outcomes expressed or implied by statements on this press launch relating to the Firm could also be discovered within the Firm’s periodic filings with the Securities and Alternate Fee, together with the components described within the sections entitled “Threat Components,” copies of which can be obtained from the SEC’s web site at www.sec.gov. The Firm doesn’t undertake any obligation to replace forward-looking statements contained on this press launch.

 

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SOURCE Riot Blockchain, Inc.

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