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Blockchain / CryptocurrencyStock News Bites: Riot Blockchain (NASDAQ: $RIOT) Issues April 2020 Production Update

Riot Blockchain Testing Mining Performance at Coinmint's Facility

 

May 6, 2020 - Investorideas.com (www.investorideas.com) Blockchain/Cryptocurrency Stock News Bites - Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot" or the "Company"), one of the few Nasdaq listed public cryptocurrency mining companies in the United States, announces its production update for the month of April 2020.

  • During April 2020, the Company produced 108 newly mined bitcoins ("BTC") with its new Bitmain S17s being fully deployed for the entire month of April 2020.
  • Riot's BTC inventory increased by 13% since March 31, 2020 to 929 BTC as of April 30, 2020.
  • The Company is currently operating approximately 4,000 S17s with an aggregate hashing power capacity of 248 Petahash per second ("PH/s") between the Riot Oklahoma City, Oklahoma and the Coinmint Massena, New York locations.
  • As announced April 30, 2020, Riot purchased an additional 1,000 Bitmain Antminer S19 Pros and expects delivery by early July 2020. Once received and deployed, Riot estimates its aggregate operating hash rate will increase by 46% to approximately 358 PH/s.

Riot successfully transported an initial batch of 300 miners from its facility in Oklahoma City, Oklahoma to Coinmint's facility in Massena, New York. This initial batch of miners was fully operational by April 19, 2020. The Coinmint facility is expected to result in improved efficiency and potentially expanded hashing capacity. Riot is using this initial batch of 300 miners to validate its expectations.


Read the company's full news and disclaimer here:

https://www.riotblockchain.com/news-media/press-releases/detail/80/riot-blockchain-announces-april-2020-production-update

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