China’s cryptocurrency mining hardware manufacturing giant Bitmain has signed another big contract that will see 8000 Antminer S19 Pro rigs delivered to Riot Blockchain.
According to Bitmain the deal is worth $17.7 mln and will see 2000 S19 Pros delivered to Riot Blockchain every month from January 2021. The company is already expecting the delivery of 4000 S17 Pro Antminers in December 2020.
Riot Blockchain has now purchased over 15000 miners from the Chinese mining equipment manufacturer and expects to have a mining hash rate capacity over 1.45 exo hashes per second with an energy consumption of 47 megawatts.
Riot Blockchain CEO Jeff McGonegal said the company has set some ambitious goals over the next 18 months:
“We are focused on building our mining operation with the most efficient hardware on the market, therefore the S19 Pro has been the leading choice during this growth period. Riot set the ambitious hash rate goal of 1 EH/s by early 2021, even though sourcing hardware can be exceptionally challenging during the current pandemic and in this economic climate.”
S19 Pros selling fast
Bitmain’s Antminer S19 Pros were launched in 2020 and boast a hashrate of 110 TH/s, making it one of the most profitable ASIC cryptocurrency miners on the market.
Given that claim, Riot Blockchain is not the only firm looking to capitalize on the latest mining hardware from Bitmain. Earlier in August Bitmain had announced that it had signed a deal to sell 10500 S19 Pro mining rigs to Marathon Patent Group for $23mln.
Marathon’s purchase was aimed at making it the biggest cryptocurrency miner in America but it seems that it will have plenty of competition from Riot Blockchain and its 15000 miners that will be deployed over the next 12 months.
Sales ongoing despite 3 month shipping delay
Bitmain continues to sign supplier deals for its high-powered ASIC mining equipment to a variety of mining industry players despite a three month delay on deliveries.
The company has put a halt on deliveries of hardware due to what has been reported as an internal management feud between co-founders Jihan Wu and Micree Zhan Ketuan.
There had been rumblings of internal conflict between the co-founders since 2019 and there have been various incidents since that have reportedly been orchestrated by both parties.