Bitcoin Miner Riot Produced 464 BTC In October, Up 433% Year Over Year

Bitcoin mining company Riot Blockchain produced 464 bitcoin in October, a 433% increase compared to its production of 87 BTC in the same month last year, according to a press release. Considering January to October production, the miner increased its output by 257% year over year, having mined 2,921 BTC in 2021 and 818 BTC over the same period in 2020.

Riot also provided details on its deployed machinery. The firm shared it currently has a mining fleet of 27,720 miners with a hashrate capacity of 2.8 exahashes per second (EH/s), with plans to increase it. Riot expects to add 9,000 S19j Pro bitcoin mining rigs purchased by $54 million from Bitmain to its fleet between May and October 2022.

“As a result of this purchase order, the Company anticipates that it will have approximately 90,150 Antminers in operation, utilizing approximately 284 megawatts of energy, by Q4 2022,” per the release.

The company also increased its estimates for next year’s hashrate capacity. Riot previously announced that it would house 7.7 EH/s by the end of 2022, but that number has now climbed by 11.7% to 8.6 EH/s.

All this mining power is being used to increase the company’s bitcoin holdings, which now amounts to 3,995 BTC, according to the release.

In October, Riot announced it would start constructing a new immersion-cooled bitcoin mining operation at its Whinstone facility. In total, the miner would house 200 MW of power and over 46,000 S19 series Antminer ASICs.

Source