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Seeking Alpha 2021-03-15 15:52:27

Riot Blockchain stock gains as bitcoin mining in first two months of year climbs

Riot Blockchain (RIOT) stock rises 3.8% after the company announces it produced 304 bitcoin in the first two months of 2021, exceeding the 302 bitcoin it mined for all of Q4.In its monthly operational update, RIOT said it purchased 1,500 S19j Pro Antminers from Bitmain scheduled for delivery in October 2021.Once deployed, the 1,500 miners, combined with 25,400 miners scheduled to be received during 2021, are expected to achieve estimated aggregate bitcoin mining hash rate capacity of 4.0 exahash/second (EH/S).The aggregate of these miners will utilize approximately 127 MW of energy with an overall estimated operational efficiency of ~32.38 ±% 5 joules per terahash. The deployment of 2,201 S19 Pro Antminers it received in late February will result in a total of 13,746 Antminers in operation with hash rate capacity of 1.3 EH/s and utilizing 43 MW of energy.On Sunday, the price of bitcoin eased from highs reached on Saturday after a report

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