Riot Blockchain (RIOT), a bitcoin miner, mined 511 bitcoin in March, up 176 percent from 185 a year ago. The corporation had 6,062 bitcoin on its balance sheet at the end of the month.
Riot Blockchain also sold 200 bitcoins at an average price of $47,090 apiece in March, for a total of $9.4 million
The company filed a shelf offering for up to $500 million in stock via a “at-the-market” program earlier this week.
During March, Riot got another 1,080 Bitmain S19j Pros, deployed 4,440 S19j Pros, and has another 5,030 units on the way. Bitmain has also delivered an additional 5,430 devices, which Riot expects to.
Riot will have a total of 53,379 miners working at a hash rate of around 5.4 EH/s once all of the above has been put to use. The business hopes to have a hash rate capacity of 12.9 EH/s by January of next year, assuming complete deployment of around 120,150 Antminer ASICs.
The stock is slightly higher in after-hours trading after falling 7% during the regular session amid a broad selloff in the bitcoin mining sector that saw Marathon Digital fall 9.2%, Hive Blockchain fall 5.2 percent, and Hut 8 lower by 5.8%.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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