Riot Blockchain Raises Hashrate Guidance by 11.7% for 2022

According to a report last year, the riot blockchain increased its prediction of bitcoin mining computing power guidance from 7.7eh/s to 8.6eh/s.

The Castle Rock, Colorado-based miner cited a recently completed $54 million purchase order for 9,000 S19j Pro miners with Bitmain for the increase in its forecast. The mining computers are expected to be delivered and deployed from May through October 2022.

Riot also said that the increase in its hashrate guidance doesn’t include any potential benefits from its 200 megawatt immersion-cooled technology, which is expected to increase the mining power of its existing computers.

Last yeary in October, Riot produced 464 bitcoins, which is about a 433% year-over-year increase.

Riot said that last year, the total production of self dug bitcoin was 2921, compared with 2457 bitcoin as of September, an increase of 464 bitcoin, which means that it continues to "hold" the bitcoin mined last year.

According to the data of glassnode, a data analysis company, the bitcoin miner said that its current hash rate capacity is 2.8 eh / s, accounting for about 1.6% of the total hash rate of 170.9 eh / s in the bitcoin network on November 2 last year.

On November 2, riot's competitor marathon digital said it had mined 417.7 bitcoins and continued to hold its newly minted coins.

Both riot and marathon shares fell about 2.5% in early U.S. trading, while bitcoin fell 1.2% on Wednesday.

By Aoyon Ashraf