Digital Assets: Crypto Miner Riot Held 3,534 Bitcoins Valued $191.5M On September 30

October 7, 2021 | Digital Assets, News
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Riot Blockchain announced Wednesday a production update for September 2021.

Riot Blockchain (NASDAQ: RIOT), the listed bitcoin mining company, said it produced 2,457 bitcoin during the year to date through September 2021. Compared to its production of 731 bitcoins in the same period in 2020, the company has boosted production by 236%. (RIOT Blockchain)

For the month of September 2021, production at Riot was 406 bitcoin, +346% compared to the 91 bitcoin produced in September 2020.

New mining rigs under supply from Bitmain

In late September Bitmain Technologies shipped 2,000 S19J Pro Antminers to Riot’s Whinstone facility (pictured above). Another consignment of 4,000 of these machines are expected to despatched by Bitmain in October 2021.

By November, Riot will have deployed about 27,646 Antminers deployed, utilizing approximately 90 megawatts of energy, with an estimated hash rate capacity of 2.8 EH/s.

The miner said it was working round the clock to complete construction at its Whinstone Facility. It already completed the installation of three 100 MW Power Transformer substations within September, with the fourth 100 MW Power Transformer substation scheduled for installation during November 2021.

Upon full deployment of all its mining machines, Riot’s total self-mining fleet will consume approximately 257 MW of energy, with about 206 MW deployed at its Whinstone Facility and approximately 51 MW currently deployed at Coinmint, LLC’s facility.

In addition to the Company’s self-mining operations, the Whinstone facility hosts approximately 200 MW of institutional bitcoin mining clients.

Bitcoin price

As this is being written, bitcoin is trading at $54,255. It was quoted at $41,130 on September 30, and the sharp rise has prompted speculation that the leading crypto may soon take out its previous all time high of $65,000 touched in mid-April 2021.

Related Story: MicroStrategy Adds To Bitcoin Hoard With $243M Purchase

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