Riot Blockchain Buys 1,000 Bitmain Miners for $2.4 Million

Riot Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term, a US-based Nasdaq listed cryptocurrency mining company, announced today the purchase of 1,000 next-generation Bitmain S19 (110 TH) Pro Antminers for USD $2.4 million from BitmainTech PTE. LTD. ("Bitmain").

Colorado-based Riot Blockchain launched in 2019 and focuses on building, operating, and supporting blockchain technologies. Its primary operations consist of cryptocurrency mining, targeted development of a cryptocurrency exchange, and the identification and support of innovations within the sector.

The company has positioned part of its Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term mining operation in upstate New York.

According to the firm, this purchase is another step in the company's recent strategic initiatives and was funded from Riot's available cash on hand.

Bitmain

"Bitmain has been working with Riot Blockchain for several years, the company has been using our Antminer products for operating their data centers, and soon to be utilizing the latest technologies we have in our product line-up, the S19 series," Bitmain's North American Team said, "We are confident with the continued cooperation and growth they have as they further expand their operations in the mining sector."

Bitmain Technology Holding Company is a multinational semiconductor company with IC design capabilities. The firm offers products, including chips, servers, and cloud solutions, for blockchain and artificial intelligence (AI) applications.

Bitmain has shipped billions of ASICs, accounting for 75% of the global market. The company develops cloud-based AI chips and has successfully released four generations of its AI chip.