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Riot Blockchain tripled production this year

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In September 2021, the American Bitcoin mining company Riot Blockchain produced 406 Bitcoin (BTC). The volume of cryptocurrency mined since the beginning of the year amounted to 2,457 BTC (~$135 million).

The figure is approximately 246% higher than the number of Bitcoins mined by Riot in the first nine months of 2020.

Thus, as of September 30, the firm’s cryptocurrency reserves reached 3,534 BTC (~$194.4 million). Moreover, all coins are obtained from Riot’s own mining operations.

Whinstone data center

In addition, the company has a fleet of 25,646 Bitcoin miners with an aggregate hashrate of 2.6 EH/s. Riot plans that by November the number of deployed devices will increase by 2,000 units delivered in September to Whinstone data center (Rockdale, Texas).

Riot acquired the operator of the facility previously in May 2021. Whinstone infrastructure development is proceeding according to plan, construction is underway around the clock, the company said.

By the end of the third quarter: they installed three substations with a capacity of 100 MW each; the construction of the fourth building is completed by 50%; the structures of the fifth by 25%; excavation work continues for two more structures.

Shares of the company

Riot expects its hashrate to be 7.7 EH/s by the fourth quarter of 2022, subject to the full deployment of approximately 81,150 miners ordered from Bitmain. The company will supply Riot Blockchain with 3,500 Antminer S19j monthly between November 2021 and October 2022.

“Riot continues to increase the share of the company and the US as a whole in the Bitcoin hashrate”. Said Megan Brooks, Riot Blockchain’s Chief Operating Officer. Earlier, the Bitcoin mining company planned to increase this figure to 3.8 EH/s by the end of 2021.

Recall that earlier in August 2021, the BlackRock investment company acquired a stake in Riot with assets under management in the amount of $9.5 trillion.

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