Focused on bitcoin (EXANTE: Bitcoin) mining company Riot Blockchain announced the execution of a purchase agreement for 8,000 Bitmain S19 Pro Antminers (110 TH) for $17.7 million from Bitmain.
According to an official press release, the purchase agreement has a defined delivery schedule of 2,000 S19 Pros per month starting in January 2021 and other shipments through April 2021 until the order is complete.
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Riot Blockchain Independent Chairman Remo Mancini says the purchase is a milestone for the company, "demonstrating that the second phase of Riot's strategic transformation is well underway."
"We have previously announced our goal to become one of the largest bitcoin miners in North America and this purchase represents a significant step in achieving that goal," Mancini added.
Cryptocurrency miners are actively increasing computing capacity amid bitcoin's attempts to break through the $12,000 mark.
Previously, a Nasdaq-listed cryptocurrency mining company, Marathon Patent Group Inc., also signed a long term purchase contract with mining manufacturer Bitmain for the purchase of 10,500 Antminer S-19 Pro ASIC miners.
Marathon CEO Merrick Okamoto described the collaboration with Bitmain as "a milestone event for the company."
At press time, BTC is trading at $11,827.41, according to an international investing company EXANTE.
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