RATE Group | Riot Reports 147% Monthly Growth In Average Daily Run Rate of BTC Mined
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Riot Reports 147% Monthly Growth In Average Daily Run Rate of BTC Mined

06 Mar Riot Reports 147% Monthly Growth In Average Daily Run Rate of BTC Mined

Posted at 06:14h in Cryptocurrency News by

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Nasdaq-listed cryptocurrency mining firm Riot Blockchain has demonstrated a remarkable monthly growth of average daily run rate of Bitcoins (BTC) mined, in February.

The United States-based firm has seen a 147% increase in the average daily run rate of BTC mined, against the average daily production run rate for December 2019, Riot revealed on March 5. Riot attributed the boost to its mining equipment upgrade. At the beginning of the month, it had 2,940 Bitmain S17s and 1,751 S9s machines, while by the end of the month, it was running 4,000 S17s.

Riot’s mining facilities upgrade

Riot Blockchain started deploying around 3,000 new units of S17 Pro Antminers as part of the full upgrade of its Oklahoma City mining facility, in January. The company purchased the mining machines from Chinese mining giant Bitmain. 

At the time, Riot anticipated that the upgrade would bring its aggregate operating hashrate at the Oklahoma City mining facility to approximately 248 petahashes per second,…

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