US-based public mining company Riot Blockchain has announced that its annual bitcoin production has more than tripled compared to 2020.
6, Riot mined 2,457 BTC (about $ 135 million) in 2021 – up 246% year over year, according to an October 6 announcement.
Production for September more than quadrupled compared to the same period last year, with Riot Mining generating 406 bitcoins last month, compared to 91 BTC in September 2020. As of September 30, 2021, Riot already owns 3,534 bitcoins (194.4 million US -Dollar). . The company says it mines every bitcoin it owns.
Riot claims it now has a deployed pool of approximately 25,646 miners, which translates to a total hash rate capacity of 2.6 exahashes per second (EH / s). Riot expects to deploy an additional 2,000 Bitmain Antminer S19Js in early November and predicts a total hash performance of 2.8 EH / s when the new units go live.
Another 4,000 Antminer S19Js are expected to be shipped from Bitmain’s Malaysian plant by the end of October.
Despite Riot’s strong performance in September, the company did not sell any of its newly mined bitcoins. The buildup of riot caught the attention of MicroStrategy CEO Michael Saylor, who tweeted:
“Publicly traded bitcoin miners don’t sell bitcoin, they accumulate bitcoin. The game has changed. “
Riot also noted that construction of its recently acquired Whinstone facility in Texas is progressing “around the clock” and predicts that the facility’s fourth 100 MW substation will be installed in December.
Going forward, Riot expects to roll out a hash rate of 7.7 EH / s by the fourth quarter of next year and estimates that by then there will be over 81,000 Antminers in operation.
Related: Here’s why bitcoin mining stocks surpassed BTC price in 2021
Riot isn’t the only public miner reporting good results for September. Rival Marathon Digital Holdings announced on October 4th that it had mined 340.6 BTC for the month.
Marathon sees quarterly mining production up 91%, with the company mining 1,252.4 bitcoin (nearly $ 69 million) for the third quarter of 2020. Marathon estimates it controls a team of 25,272 miners, which gives a combined hash rate of 2.7 EH / s.
Marathon also secured a $ 100 million line of credit with Silvergate Bank on October 1.
Marathon shares are up 254% from $ 11 to about $ 39 year-to-date, while Riot stock is up 61.5% from $ 16.48 to $ 26.61 over the same period.