Bitcoin mining company Riot Blockchain, whose shares are traded on the Nasdaq exchange, signed a $ 138 million deal with Chinese ASIC producer Bitmain to buy 42,000 S19j Antminers.
With these new mining devices acquired, the firm’s total hashrate capacity will expand to 7.7 exahash per second (EH / s). This marks a 93% increase since October.
Riot Blockchain shares rose over 230 percent in 2021 compared to the previous year. Its market value is currently over $ 4.5 billion.
Megan Brooks, the company’s COO, stated that the acquisition is a “significant milestone” for leading US mining companies.
Top companies like Riot are in a hurry to take advantage of a new gold rush and scale operations.