RATE Group | This Miner Buys 1,000 New Antminers as Bitcoin Halving Looms
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This Miner Buys 1,000 New Antminers as Bitcoin Halving Looms

03 May This Miner Buys 1,000 New Antminers as Bitcoin Halving Looms

Posted at 03:49h in Bitcoin News by

This Miner Buys 1,000 New Antminers as Bitcoin Halving Looms 101
Antminer S19 Pro. Source: Bitmain

Publicly traded crypto mining company Riot Blockchain, Inc. says it has purchased 1,000 next generation mining machines, as the Bitcoin (BTC) miners brace for the upcoming halving in mining rewards, expected to occur on May 12.

The company said it has recently completed a purchase of 1,000 units of the next generation Bitmain‘s S19 (110 TH) Pro Antminer machine, worth an estimated USD 2.4 million.

Riot Blockchain, which exclusively mines BTC, bitcoin cash (BCH), and litecoin (LTC), further said that the new investment was paid for with cash on hand, and that it estimates the new machines will increase its aggregate operating hashrate, or computing power, by 46%, to about 358 petahash per second.

The new mining machines are expected to be delivered by early July, Riot Blockchain said in its announcement. As such, the mining company will have to continue working without these more efficient machines for at least two months after the halving in…

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