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Riot Blockchain Bitcoin production jumps 80% over pre-halving levels

Published 04/12/2021, 12:20 PM
Updated 04/12/2021, 02:00 PM
Riot Blockchain Bitcoin production jumps 80% over pre-halving levels
RIOT
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BTC/USD
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In an announcement on Monday, Riot Blockchain (NASDAQ:RIOT) reported that it produced 187 Bitcoin (BTC) — roughly $11.2 million — last month, an 80% increase over its BTC mining in March 2020. The company said it held more than 1,565 Bitcoin on its balance sheet as of March 31, representing more than $94 million in crypto.

The mining report follows Riot's $138 million purchase of 42,000 S19j Antminers from crypto mining giant Bitmain. Roughly 6% of the rigs — 2,400 Antminers — are reportedly already on route to Coinmint’s facility in New York, where Riot runs a portion of its mining operations. By the end of April, Riot claimed it will have 16,146 Antminers in operation capable of producing 1.6 exahashes per second.

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