4000 antminer S17 were supplied by Nasdaq-listed crypto mining firm Riot Blockchain since the company is ramping up operations. The company got its new equipment for its Oklahoma mining facility as we can see in the blockchain news today.
Riot Blockchain is one of the few Nasdaq-listed companies in the US that is dedicated to crypto mining. The Oklahoma-based company invested about $5 million in 4000 Antminer S17 pro equipment on December 4 and it claimed that the cost-effective machines will allow it to achieve a 50 percent improvement in the hardware power efficiency that was compared to the S9 miners that are currently in use. The new generation miners will even generate approximately 440 percent of the S9’s hashrate while only consuming the estimated 220 percent of an S9’s electricity usage.
With this improvement in efficiency, it will allow Riot to ‘’significantly increase’’ its operating hashrate since its new mining facility will go without consuming further electricity. Oklahoma is not necessarily on the map for crypto mining and it also doesn’t possess the untold amount of renewable energy such as Quebec or the Pacific Northwest. The cost of the commercial electricity rate is about 27.82% less than the national average rate.
While the crypto mining continues to be constantly challenged, along with the price volatility of Bitcoin, the opportunity to acquire significant additional net hashrate capacity for a very low-cost option was determined to be compelling. It turns out that just two weeks later and even before receiving the delivery of the original Bitmain Antminers, Riot Blockchain is back at it again. All the company wants is for a new BTC mining hardware.
In the SEC filing as of yesterday, the corporation decided to gather 1,000 more miners proving its bullish stance on the future of the industry. Oklahoma will soon be known for something new and interesting and could even become a hub for crypto mining instead. Also as per the other reports, Bitmain announces a new expansion plan in South America looking to establish a strong presence with two Bitcoin mining consulting firms. In the meantime, the co-founder Jihan Wu continues to strengthen his hold on the company as per the recent reports in our blockchain news.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
DC Forecasts - Newsletter and get recent news directly to your inbox! Daily Newsletter Bitcoin NewsAltcoin NewsLitecoin NewsEthereum NewsBlockchain NewsBitcoin ScamsRegulationExpert AnalysisPress ReleasesCardano NewsRipple NewsLibra NewsBitcoin Cash NewsTron NewsNexo NewsVechain NewsStellar NewsTezos NewsBinance Coin NewsCoinbase NewsChainLink NewsEOS NewsIOTA NewsTether NewsBitcoin SV NewsMonero NewsEthereum Classic NewsDash NewsUNUS NewsCosmos NewsMECX Token NewsNEO NewsDC Forecasts Announcements
Daily Newsletter Bitcoin NewsAltcoin NewsLitecoin NewsEthereum NewsBlockchain NewsBitcoin ScamsRegulationExpert AnalysisPress ReleasesCardano NewsRipple NewsLibra NewsBitcoin Cash NewsTron NewsNexo NewsVechain NewsStellar NewsTezos NewsBinance Coin NewsCoinbase NewsChainLink NewsEOS NewsIOTA NewsTether NewsBitcoin SV NewsMonero NewsEthereum Classic NewsDash NewsUNUS NewsCosmos NewsMECX Token NewsNEO NewsDC Forecasts Announcements
DC Forecasts provides a comprehensive source of the latest news about cryptocurrency news daily. Read more on our about us page for details.