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BITMAIN Secures $17.7 Million Deal with Riot Blockchain for ANTMINER S19 Pro

BITMAIN Signs $17.7 million ANTMINER S19 Pro Deal with Nasdaq-Listed Riot Blockchain

Singapore, August 24, 2020 — BITMAIN, the leading global manufacturer of cryptocurrency mining equipment, is continuing its collaboration with Riot Blockchain, one of the few Nasdaq-listed cryptocurrency mining companies, by entering into another acquisition agreement for 8,000 next-generation BITMAIN ANTMINER S19 Pros. The ANTMINER S19 Pro, which was launched earlier this year, is another popular miner that boasts a hash rate of 110 TH/s and a power efficiency of 29.5 ± 5 J/TH. This new $177 million contract with Riot is another major milestone for BITMAIN’s ANTMINER S19 Pros worldwide.

“We are pleased to continue and expand our partnership with Riot. Riot is a long-term friend of ours, and we have supported them in building a successful mining operation in North America. Equipped with the most advanced chipset currently available, our ANTMINER S19 Pro has redefined the industry standard of hash rate with superior power efficiency. We believe this new acquisition will help Riot expand its leading position in the market and achieve their business vision, which we are more than happy to be a part of,” said Irene Gao, ANTMINER Sales Director of NCSA Region, BITMAIN.

This purchase agreement has a defined delivery schedule of 2,000 S19 Pros per month starting in January 2021 and continuing through April 2021 until the order is complete.

“Riot Blockchain deeply values the relationship established with BITMAIN over the years. We are focused on building our mining operation with the most efficient hardware on the market, and the S19 Pro has been the top choice during this growth period. Riot set the ambitious hash rate goal of 1 EH/s by early 2021, although sourcing equipment can be incredibly difficult during the current pandemic and in this economic environment. BITMAIN provided us with exceptional service in a path towards achieving our goal, and due to their robust supply chain, we are scheduled to surpass it. We appreciate our relationship with BITMAIN and look forward to supporting each other as our industry grows,” said Jeff McGonegal, CEO of Riot Blockchain.

Since December 2020, Riot has purchased a total of 15,040 ANTMINERs, starting from a 4,000 S17 Pro position. When the new S19 Pros are fully deployed, Riot expects its total hash rate capacity to be approximately 1.45 EH/s (1,446 PH/s) while using approximately 47 megawatts (MW) of power.