On October 6, a NASDAQ-listed blockchain mining company, Riot Blockchain, announced that it’s Bitcoin production capacity in September has increased by about 346% to 406 BTC yearly comparing to the last year. In the meantime, the yearly Bitcoin mining production recorded a rise of roughly 236% for the first 9 months.
Riot Blockchain stated that as of September this yr, the corporate has mined 2,457 BTC.
Due to the positive statement of the US SEC that it won’t follow China’s complete ban on digital currencies, bitcoin has risen by 5.87% up to now 24 hours and by 25.41% in 7 days. At press time, bitcoin is trading at $54,436.54, in accordance with Coinmarketcap.
Related: Bitcoin Mining Profits Reach $40 Million In Just One Day
Primarily based on the present worth, Riot Blockchain produced roughly $135 million prices in Bitcoin. The production capability is double as much as 731 BTC in comparison with the identical period last year.
Riot Blockchain has employed roughly 25,646 miners, with a mining power charge of 2.6 exahash (EH/s).
As of September 30, 2021, Riot has a complete of approximately 3,534 BTC (roughly $192 million), all of which come from mining operations. Also, it stated that there is no plan to sell the mined bitcoins.
The world’s top bitcoin mining machine producer Bitmain Technology Co., Ltd., has suspended the sale of mining machines worldwide in response to the Chinese government’s recent crackdown on domestic mining targetting domestic miners, as reported by Cmnnews on June 24.
However, Riot still maintains close communication with Bitmain and logistics providers and states that 2,000 S19J Professional Antminers have been shipped to Riot’s Whinstone manufacturing facility in late September, and another 4,000 S19J Professional Antminers may even be shipped from Bitmain in early October. The Malaysian manufacturing facility issued it.
It’s stated that a whole of 27,646 ant mining machines will be deployed in early November this year to extend the hash rate capacity to 2.8 EH/s.
Riot Blockchain predicts that if it is going to signal an acquisition settlement with Bitmain-a whole of roughly 81,150 ant mining machines will be deployed. By the fourth quarter of 2022, Riot estimates that the total self-digging capacity will be 7.7 EH/s.
Marathon Digital Holdings, a competitor in the same cryptocurrency mining circuit as Riot Blockchain, additionally introduced that it had mined 340.6 BTC in September.
On Monday, October 4, Marathon Digital announced that it obtained the $100 million credit line from crypto-friendly Silvergate bank on Friday, October 1.
Source: Blockchain News
