Mining company Riot Blockchain confirmed that its year-to-date Bitcoin production had tripled compared to the previous year. This year alone, the company mined 2,457 Bitcoin (about $135 million), which is a growth of 246% when compared to the same time period of 2020.
Riot generated 406 BTC in September – during the same month in 2020, it generated only 91. Currently, the company owns 3,534 Bitcoin and claims that all of them were mined by itself.
The company has about 25,646 miners with a total hash rate capacity of 2.6 EH/s. It plans to add 2,000 Bitmain Antminer S19J miners by next month, which would increase the total hashing power to 2.8 EH/s.
Michael Saylor, the CEO of MicroStrategy, wrote on Twitter:
“Publicly traded #Bitcoin miners aren’t selling Bitcoin, they are accumulating Bitcoin. The game has changed.”
By the end of 2022, Riot predicts that it will grow the hash rate to 7.7 EH/s, as it plans to own over 81,000 Antminers by then.