Riot blockchain says it held more than $94 million in cryptocurrencies as of March 31, all from the bitcoin it mined.
In an announcement Monday, Riot Blockchain said it produced 187 bitcoin ( BTC ) - about $11.2 million - last month, an 80% jump from its March 2020 BTC output. The company said it has more than 1,565 bitcoin on its balance sheet as of March 31, representing more than $94 million in cryptocurrencies.
The mining report follows Riot's $138 million purchase of 42,000 S19j Antminers from cryptocurrency mining giant Bitmain. About 6% of the rigs - 2,400 Antminers - are reportedly already on their way to Coinmint's facility in New York, where Riot runs part of its mining operations. By the end of April, Riot claimed it would have 16146 Antminers capable of producing 1.6 exahash per second.
As more Antminers come online, Riot expects their mixing power to increase significantly. The mining company expects to reach a blending rate of 3.8 EH / s by the end of the year, while a total fleet capacity of 81146 Antminers - expected to be fully operational before the fourth quarter of 2022. - could generate a blending rate of 7.7 EH / s.
Riot is also reportedly planning to purchase a large mining site in the state of Texas. The mining company said last week that it would buy Northern Data-owned Whinstone for $650 million. The deal would apparently allow Riot to run its rigs in Texas with a total capacity of 750 megawatts, with an additional 300 MW planned.
