US-based crypto mining company Riot Blockchain recently bought 1,000 next-generation S19 Pro Bitmain Antminers. It spent $2.4 million on procuring the machines.
Big order from Riot
Nasdaq-listed Riot Blockchain placed an order for 1,000 next-generation Bitmain S19 Pro (110 TH) Antminers to Chinese mining hardware manufacturing giant BitmainTech PTE. LTD. The order cost $2.4 million, which were paid via the company’s available cash in cash. Riot said that this purchase is yet another step towards its strategic initiatives.
The Colorado-based company was launched in 2019 and focuses on creating, operating and support technologies based on blockchain. Crypto mining is one of the primary operations of the company. It also focuses on the targeted development of digital asset exchange. Riot is also actively involved in identifying and supporting initiatives within this sector. It is running a Bitcoin mining operation in New York as well.
Bitmain speaks on partnership
The North American team of Bitmain released a statement, suggesting that Bitmain has been working with Riot Blockchain for long now. Riot Blockchain uses Antminers for its data centers and will also be using their latest S19 products in their operations. “We are confident with the continued cooperation and growth they have as they further expand their operations in the mining sector,” it added.
Bitmain Technology Holding is a multinational company with IC design capabilities. The semiconductor company is known as the largest crypto mining hardware manufacturer in the world. It currently offers a wide range of products like servers, chips, and cloud solutions which are used for emerging technologies like artificial intelligence (AI) and blockchain.
Bitmain is the no. 1 ASIC chip manufacturer and currently holds a 75% share of the global market. Its cloud-based AI chips have successfully completed four generations. The company has tried to go public to amplify its potential before, but all in vain. It was last heard that Bitmain was filing an IPO in the US.