Bitcoin miner Riot moves hardware fleet out of New York hosting facility

Quick Take

  • Riot has started to move its miners out of a Coinmint facility in New York and into its new site in Texas.
  • In June, the bitcoin miner produced 421 BTC and sold 300 BTC.

Bitcoin miner Riot is moving a part of its fleet out of New York and into its new Whinstone facility in Texas, in an effort to lower operational costs.

About 5,700 of the company's rigs are currently offline, according to a monthly update published Wednesday.

That resulted in a reduction of the miner's operating hash rate from 4.6 exahash per second (EH/s) at the end of May to 4.4 EH/s.

Riot says the move out of New York will allow it to cut third-party hosting fees and lower power costs. The company has also entered into a miner swap agreement with another bitcoin "mining counterparty." All the rigs that were previously in Coinmint's facility in Massena, NY are expected to be redeployed in June, per Riot's statement.

Riot deployed 4,676 S19j Pro rigs at Whinstone in June and is set to receive 6,333 additional ones in July. The miner expects to reach 5.0 EH/s once they are all deployed. It also forecasts reaching 12.5 EH/s by January of 2023.

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