CASTLE ROCK, Colo.,
May 7, 2020 /PRNewswire/ -- Riot
Blockchain, Inc. (NASDAQ: RIOT) ("Riot" or the "Company"), one of
the few Nasdaq listed public cryptocurrency mining companies in
the United States, announces the
purchase of an additional 1,040 next generation Bitmain S19 (95 TH)
Antminers for USD $1.9 million from
BitmainTech PTE. LTD. ("Bitmain").
On April 30, 2020, Riot announced
its purchase of 1,000 S19 Pro (110 TH) miners. The combined
purchase of the 2,040 new S19s, is another step supporting the
Company's recent strategic initiatives focused on expanding its
bitcoin mining operations. The purchases were funded from
Riot's available cash on hand. Riot anticipates that the total
2,040 new S19 miners will be received and deployed in the third
quarter of 2020. Once the total 2,040 new S19s are received and
fully deployed, Riot estimates its aggregate operating hash rate
will increase over 80% to approximately 457 petahash per second
("PH/s") and utilize approximately 16.5 megawatts of energy.
The latest generation of bitcoin ("BTC") Application-Specific
Integrated Circuit ("ASIC") miners from Bitmain are markedly more
energy efficient than prior Bitmain models and other ASIC miners
currently available. The May
6th purchase of 1,040 Bitmain S19 Antminers
boast a hash rate of 95 TH/s and an energy efficiency of 34.5±% 5
joules per terahash (J/TH).
COVID-19 Update: As published in its previous
disclosures, Riot is continuing to closely monitor COVID-19 and its
potential impact on the Company's workforce, operations, finance
and liquidity. To date, the impact has remained minimal.
About Riot Blockchain
Riot Blockchain (NASDAQ: RIOT)
specializes in cryptocurrency mining with a focus on bitcoin. Riot
also holds non-controlling investments in blockchain technology
companies. Riot is headquartered in Castle Rock, Colorado, and the Company's
primary mining facility is located in Oklahoma City, Oklahoma. For more information,
visit www.RiotBlockchain.com.
Safe Harbor
The information provided in this press
release may include forward-looking statements relating to future
events or the future financial performance of the Company. Because
such statements are subject to risks and uncertainties, actual
results may differ materially from those expressed or implied by
such forward-looking statements. Words such as "anticipates,"
"plans," "expects," "intends," "will," "potential," "hope" and
similar expressions are intended to identify forward-looking
statements. These forward-looking statements are based upon current
expectations of the Company and involve assumptions that may never
materialize or may prove to be incorrect. Actual results and the
timing of events could differ materially from those anticipated in
such forward-looking statements as a result of various risks and
uncertainties. Detailed information regarding factors that may
cause actual results to differ materially from the results
expressed or implied by statements in this press release relating
to the Company may be found in the Company's periodic filings with
the Securities and Exchange Commission, including the factors
described in the sections entitled "Risk Factors," copies of which
may be obtained from the SEC's website at www.sec.gov. The Company
does not undertake any obligation to update forward-looking
statements contained in this press release.
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SOURCE Riot Blockchain, Inc.