Skip to content Skip to sidebar Skip to footer

Riot Blockchain Tripled Production & Holds $194 Million in Bitcoin

US-based crypto mining company Riot Blockchain announced that their YTD (year-to-date) Bitcoin production has grown more than three times higher in comparison to 2020.

So far. Riot Blockchain has mined 2,457 Bitcoins (BTC), valuing roughly $135 million, within 2021 alone — 246% more than the amount mined during the same period of the previous year.

Riot’s production in September quadrupled year-over-year, having generated 406 Bitcoin on September 2021 compared to 91 Bitcoin during last year’s September. Riot holds 3,534 Bitcoin as of September 30, 2021 — valuing approximately $194 million. The firm stated that every Bitcoin that it owns are mined by them.

The crypto mining company claims that it has deployed approximately 25,646 miners, representing a total hash rate capacity of 2.6 EH/s. An additional 2,000 Bitmain Antminer S19Js are expected to be deployed by early November, which would add extra 0.2 EH/s to the total. By the end of October, another 4,000 more Antminer S19Js are slated for shipment from a Malaysian Bitmain facility.

Although Riot is performing tremendously well, they have not sold any of its newly mined Bitcoin. MicroStrategy CEO Michael Saylor took notice of Riot’s accumulation and said: “Publicly traded Bitcoin miners aren’t selling Bitcoin, they are accumulating Bitcoin. The game has changed.”

Riot is not the only publicly traded mining firm to experience fruitful production as rivalling Marathon Digital Holdings announced that it had mined over 340 Bitcoin within the month.

Leave a comment