Riot Blockchain Unleashes 4,000 Antminers: The Oklahoma City Mining Upgrade

Riot Blockchain’s Massive Upgrade

Riot Blockchain is making waves in the cryptocurrency mining world once again, with the deployment of about 3,000 brand new S17 Pro Antminers at its Oklahoma City facility. These shiny new machines are part of a larger plan to upgrade the existing setup, and let me tell you, this is not just a minor tweak—this is a full-blown operation, akin to turning a T-Rex into a Transformer.

A Glance at the Numbers

In a recent press release dated January 8, the company announced it has now onboarded nearly 4,000 state-of-the-art S17 Pro Antminers from Chinese tech titan Bitmain. That’s right; the company has been amassing mining machines like kids collect Pokémon cards. The hired staff will be scurrying about, maximizing the potential of these miners and fast-tracking this upgrade.

What’s the Expectation?

Riot plans on achieving a phenomenal operating hashrate of approximately 248 petahash per second as a result of the full deployment. This marks a staggering 240% improvement in hardware efficiency compared to its previous setups. It’s like upgrading from a bicycle to a jet plane overnight!

A Past Investment in Mining

Back in mid-December 2019, Riot snagged 1,000 additional S17 Pro mining rigs, with an expected payout of around $1.35 million; that’s roughly $1,350 per unit. However, the listed retail price was a tad higher at $1,401, leaving you to ponder if there’s a hidden Beth Dutton-influenced “sales tax” lurking in there.

What’s Up With RiotX?

While they’re busy upgrading mining facilities, let’s not forget Riot’s ambition to launch a regulated cryptocurrency exchange called RiotX. Initially aimed for a launch by the end of Q2 2019, it seems this project has hit a bit of a speed bump. Users were promised a platform to link accounts to-accredited banking institutions and squeeze both fiat and crypto into their wallets. However, it seems like we’re still waiting for some good news here.

Conclusion

Riot Blockchain is undoubtedly doubling down on its mining game with these extensive upgrades. As they gear up with S17 Pro Antminers, one can only hope they’re not just chasing the latest tech trends but also finding a viable path to profitability—if not, those investments might require a bit of crypto magic to turn around!