NASDAQ Listed, Riot Blockchain Sees a 43% MoM increase in Bitcoins Mined in February

Riot Blockchain, the first publicly listed Bitcoin mining firm on NASDAQ, released its monthly productions and operations report on Monday, reporting a 43% monthly increase in Bitcoins mined during February. The firm also announced an additional purchase of Antminer’s rigs from Bitmain Technologies Limited to boost its hash rate power.

According to the unaudited production update, through February, Riot Blockchain mined 54 more BTC than the 125 BTC mined in January – a total of 179 newly mined BTC. The mining firm is on course to beat last year’s 1005 newly mined BTC, with the current global shortage of ASIC miners playing a key role in affecting large-scale BTC miners.

The company has placed an order for 1,500 S19j (90 TH) Pro Antminers from Bitmain, scheduled to be delivered later this year (possibly October). With the additional miners, Riot Blockchain will have 39,146 mining rigs once the rigs are delivered and stored. The company estimates they will produce an aggregate bitcoin mining hash rate capacity of 4.0 EH/s once complete.

This is set to obliterate the target of 2.3 EH/s set for 2021 following the acquisition of over 2,500 S19 Pro Antminers in October 2020.

As they wait for the upgraded Pro Antminers, the company receives monthly deliveries of hardware purchased last year. A total of 2,201 S19 Pro Antminers were shipped to Riot Blockchain’s New York-based mining facility, Coinmint LLC, in February 2021. The installation is set to be completed next week, the report confirmed.

“Riot’s operational hash rate capacity has been growing significantly as demonstrated in our monthly mining production results,” said Jason Les, CEO of Riot. “We are excited about our committed expansion, substantially increasing our operational hash rate capacity.”

The mining company confirmed in late 2020; they will increase their hashrate by over 65% with over 15,000 additional new mining rigs from Bitmain.

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