Riot Blockchain, one of the few public blockchain companies in the U.S., announced in December the purchase of a total of 4,000 of the new generation Antminer S17 Pro mining hardware produced by none other than Bitmain.
The purchase is split in two batches – 3,000 and 1,000. As per the company’s latest announcement, the first batch has been received in late December last year and the team has already started working on deploying the machines at Riot’s Oklahoma City mining facility.
The other 1,000 S17 Pro Antminer are expected to arrive this month. The company estimates that the overall operating hashrate at the Oklahoma City mining facility after the full deployment of all of the new 4,000 miners will reach around 248 petahash/s.
This would represent, roughly, a 240% increase in average mining hashrate compared to the previous setup at the mining facility.
This $6.35 million investment in the mining equipment aims to position the company at the forefront of the crypto mining industry, preparing them for potential swings in network overall hash power.
The replaced 7,500 S9 miners, also produced by Bitmain, will be on standby until the company decides what it will do with them.