Bitmain inks $17.7 million dollar deal with Riot Blockchain for next-gen bitcoin mining hardware
August 24, 2020, 10:13AM EDT
1 min read
Bitcoin mining hardware giant Bitmain said Monday that it signed a $17.7 million deal with Riot Blockchain, a publicly-traded company that mines bitcoin, to purchase "8,000 next generation Bitmain Antminer S19 Pros."
According to a press statement published by Bitmain, the agreement entails " a defined delivery schedule of 2,000 S19 Pros per month starting in January 2021 and continuing through April 2021 until the order is complete." A previous statement from Riot estimated that the new batch of miners would arrive sometime in November.
"The newly announced order of 8,000 S19 Pro (TH/s) miners are expected to be received and deployed during the first four months of 2021 and are expected to raise Riot's total operational hash rate capacity to 1.45 EH/s (1,446 PH/s). Riot expects to then have a fully deployed fleet totaling approximately 15,040 miners," the firm said.
Gemini Galactic, an affiliate of cryptocurrency exchange Gemini, received approval from the Financial Industry Regulatory Authority (FINRA) to operate a broker-dealer registered with the SEC and is now a FINRA member.