Riot plans to increase the number of miners

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Ultramining.com

10:53 Nov 10, 2022

129
Riot plans to increase the number of miners

Although the company's quarterly report reflected a loss, we can say that Riot was able to improve its financial result.

In very heavy conditions of crypto-winter, and a prolonged bearish trend, Riot managed to reduce losses by ten times. From $366.6 million to $36.6 million. These numbers are formal, as liquid reserves are $369.8 million.

In October, the company purchased 5,728 hardware items with a hashrate of 5.6 EH/s. Last month, another 9,9788 Antminer S19s were put into service. According to Riot Blockchain, the hashrate will reach 12.5 EH/s within 1.5 months with the purchase of the most efficient miners.

Despite the difficult situation on the market lately, there is a significant dynamics in transactions for the purchase and sale of assets. It may be a confirmation of the strengthening of the positions of large miners.


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