Seeking Alpha
2020-08-26 20:39:27

Riot buys more bitcoin miners, sees hashing capacity over 2 EH/s next year

Riot Blockchain (RIOT) continues building its bitcoin mining capacity by ordering 5,100 more Bitmain S19 Pro Antminers for $11.2M, scheduled for receipt and deployment starting February 2021.Along with a recently announced order of 8,000 S19 Pros, Riot is scheduled to receive 13,100 miners in H1 2021.The additional volume discount provided by Bitmain reduced the previously announced purchase price for the 8,000 miners to $17.5M from $17.17M.Sees hashing capacity exceeding 2 EH/s.Based on current factors, Riot expects to achieve positive cash flow in late 2020 with total hashing capacity seen reaching 566 PH/s.Riot slips 0.6% in after-hours trading.See Riot's total return vs. bitcoin and S&P 500 in the past six months:

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