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Bitmain inks $18M Bitcoin mining rig sale with Riot Blockchain

Bitmain inks $18M Bitcoin mining rig sale with Riot Blockchain

Main cryptocurrency mining {hardware} producer Bitmain is making a serious sale to Riot Blockchain, a Nasdaq-listed crypto mining firm.

Based on an Aug. 24 announcement, the companies signed a $17.7 million buy settlement for 8,000 Bitmain Antminer S19 Execs that features a supply schedule of two,000 models on a month-to-month foundation beginning in January 2021 till the order is full.

Bitmain launched the Antminer S19 Professional earlier this 12 months, with a hash price of 110 terahashes per second and an influence effectivity of ~29.5 joules per terahash, practically double the facility effectivity per terahash of earlier miner fashions.

Irene Gao, Antminer gross sales director of the NCSA area at Bitmain, acknowledged that the acquisition will assist Riot increase their place out there and praised what she believes is an “excellent energy effectivity” provided by Antminer S19 Professional.

The corporate clarified that, as soon as the brand new S19 Execs are absolutely deployed, Riot expects its complete hash price capability to be roughly 1.45 exahash per second.

Analysis agency Hurun revealed an inventory of world unicorns, or firms value greater than a billion {dollars}, in 2020, and confirmed that Bitmain plummeted considerably when it comes to valuation.

Final 12 months the corporate posted a $12 billion valuation, however this has since fallen to $four billion. Based on Hurun, one motive behind Bitmain’s drop is the “mediocre post-IPO efficiency of its rival, Canaan.”

On Aug. 6, Bitmain introduced that they are going to be delaying their June and July 2020 Antminer orders by not less than two or three months resulting from “exterior interference on firm operation.”

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