Cryptocurrency

Riot Blockchain buys more processors

Riot Blockchain announced the purchase of more processors to work. We must remember that it is one of the few companies in mining cryptocurrencies public that is traded on Nasdaq in the united States.

According to a publication, it became known that recently Riot Blockchain announced the purchase of more processors. Specifically 1.000 Antminers Pro Bitmain S19 (110 TH) of next-generation $ 2.4 million.

This purchase is another step in the recent strategic initiatives of the company.

Riot Blockchain focuses on the mining

Riot Blockchain focuses on build, operate and support technologies Blockchain. Their main operations consist of the mining cryptocurrencies, directed development of an exchange of cryptocurrencies, and the identification and support of innovations within the sector.

Processors more efficient

The miners of application-specific integrated circuit (ASIC) of the latest generation of Bitmain are significantly more energy-efficient than previous models and other miners ASIC currently available.

The Bitmain Antminer S19 Pro account with a rate of hash 110/ TH. Once the new S19 is received and implemented fully, Riot estimates that its rate of hash operating added will increase by 46%. This is equivalent to 358 petahash per second (PH / s”). Riot anticipates receiving the S19 at the beginning of July.

Riot Blockchain and Bitman have worked for several years together

“Bitmain has been working with Riot Blockchain for several years, the company has been using our products Antminer to operate their data centers and soon will use the latest technologies that we have in our product line, the series S19”.

The american team of Bitmain further stated: “we Rely on the continued cooperation and growth as they expand further its operations in the mining sector”.

Bitmain Technology Holding Company is a multinational company of semiconductors with design capabilities of integrated circuits of the latest generation.

It also offers products, including chips, servers, and cloud solutions, for applications of blockchain and artificial intelligence (AI).

Also, he has sent thousands of millions of ASIC at various centres of mining by the world, which represents 75% of the global market. Being one of the few companies in the world with the ability to develop the chips of artificial intelligence based in the cloud.

According to the press release issued on April 14, 2020, Riot continues to monitor the COVID-19. Its potential impact on the labor force, operations, finance, and the liquidity of the company.

Riot Blockchain reported losses continued in the first quarter of this year

The u.s. mining company recently released its financial report for the first quarter of 2020. Describing an image of a company that depends largely on the financing of equity and debt to finance its operations.

The company reported recurrent losses and cash flows negative consequences of their operations, with Riot anticipating persistent losses in the short term.

For this reason, the team was focusing its hopes on the arrival of 2,000 mining machines of next generation. Trusting that will allow you to double your rate of hash operations.

Riot emphasized its improved performance in comparison with the first quarter of 2019, with its margin on mining operations of up to USD 955.000 from a loss of USD 65.000. Revenues increased by 68%, from USD 1.4 million to USD 2.4 million, in comparison with the first quarter of 2019.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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