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HomeCryptoCurrencyRiot Blockchain Quadrupled Its BTC Production In September - 406 Bitcoins

Riot Blockchain Quadrupled Its BTC Production In September – 406 Bitcoins

The Bitcoin (BTC) mining company Riot Blockchain, reported this week that it quadrupled its production in September 2021, when they managed to extract 406 BTC. This represents an increase of 346% compared to what was registered in the same period of 2020, when only 91 BTC were mined.

In a press release published on its blog, the company, which is listed on Nasdaq, indicated that, so far this year and until September, they have produced a total of 2,457 BTC, an increase of 236% compared to the same period last year ( 731 BTC).

They also indicate that, as of September 30, they had in their reserves, approximately 3,534 bitcoins, all of which were mined by themselves.

They clarify that, right now, they have a deployed fleet of at least 25,646 mining machines that have a capacity of 2.6 exahash per second (EH / s).

Riot advances in new farm to mine Bitcoin

On the other hand, Riot Blockchain referred to the progress at its Whinstone US farm, a bitcoin mining facility located in Rockdale, Texas, States U nests, which it acquired in recent months.

The company indicates that the development of the infrastructure is maintained according to schedule, with construction underway 24 hours a day. In fact, and as of September 30, they have installed at least three transformer substations of 100 megawatts (MW) and a fourth, of the same capacity, are scheduled for next November.

Riot explains that, in general terms, the construction of a first building, at the called “D”, is 50% advanced, with 2,600 kVA transformers. The same with another building, called “F”, which has been erected 25%, with 40% of its underground infrastructure and foundations already completed.

Thus, Riot Blockchain hopes that, to in the fourth quarter of 2022, they reach a net automatic extraction capacity of 7.7 EH / s, provided that the deployment of the 81,150 mining equipment they acquired from the Chinese manufacturer Bitmain is completed.

«After full deployment, it is expected that The company’s total autonomous mining fleet uses approximately 257 MW of energy, with approximately 206 MW deployed at Riot’s Whinstone facilities and approximately 51 MW currently deployed at Coinmint, LLC facilities. ”

complejo -Whinstone-US-riot-blockchain-minería-bitcoin
Development of the Whinstone US complex is on schedule. Source: Riot Blockchain / riotblockchain.com.

It should be remembered that, in April, Riot bought Whinstone US, which is the operator of North America’s largest BTC hosting and mining facility , as reported on CryptoNews.

Whinstone US was acquired by Riot Blockchain worth $ 80 million in cash, and 11.8 million common shares of the mining company that, at the time, were worth $ 48.37 each. Thus leaving the final price of Whinstone US at a total of USD 651 million.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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