If you are in the Cryptocurrency mining world at all – you are very familiar with Antminers which are produced by Bitmain. Additionally – you are well aware of the Riot Blockchain powerhouse and their massive mining operation.
“This year has witnessed a significant expansion of our partnership with Riot. Overall, Riot purchased over 20,000 Antminers from us within this year. We are glad to accompany and support their growth across North America and becoming one of the top players in the market. This continuously growing partnership is also another strong proof of our industry-leading Antminers S19 Pro, which features a remarkable hash rate of 110 TH/s with an energy efficiency of 29.5±% 5 (J/TH). ”Irene Gao, Antminer Sales Director of NCSA Region, Bitmain
Bitmain’s strong hold on the production of these ASIC Cryptocurrency miners increased it’s footprint by selling 8,000 Antminers to Riot Blockchain back in October of 2020. This addition will bring the NASDAQ listed mining operation to a total of 22,640 machines.
These devices are the Antminer S19 Pro rated at 110 TH with a $4,100+ price tag. They are rated at ~$2,742 profit per year ( based on December 1st, 2020 BTC at $19,100 ) so this deal will run Riot just shy of $33 Million while turning nearly $22 Million in profit – the first 12 months.
If all things were equal – which we know isn’t the case – this means Riot is producing over $55 Million dollars a year, in profit, from mining cryptocurrency.