Riot Blockchain Inc announced the development of their new industry-scale immersion-cooling technology that will increase their miner productivity.
The BTC mining firm has its 200 megawatts technology at the Whinstone facility. Riot Blockchain acquired Whinstone, a Bitcoin mining infrastructure company, earlier this year and consequentially acquired its facility and it sits on 100 acres. It also has a team of around 100 employees supports the facility. For this reason, the site’s will produce a total capacity of 750 MW.
Riot CEO Jason Les shared the company’s excitement regarding immersion-cooling technology.
“After months of research-Riot is proud to be a pioneer in the use of cutting-edge immersion-cooling technology at an unprecedented scale.”
This Bitcoin mining operation consists of two buildings that are under construction hosting roughly 46,000 series Ant miner immersion-cooled ASICs.
Immersion-cooling refers to immersing Bitcoin mining chips in a specialized fluid to keep the integrated circuits working at lower temperatures. This method also allows for higher productivity rates. Preliminary results estimate a 50% increase in performance with a 25% increase in hash rate. The increased hash rate is due to the lack of need for fans. Thus, the machines end up using less energy.
Keeping these efficiencies in mind, the Bitcoin mining firm anticipates an increase in its productivity and hash rate in the coming year. The immersion-cooled ASICs will start functioning in Q4, 2021.
More on Riot Blockchain Inc.
Riot Blockchain is a Bitcoin mining company founded in 2000. And it has its headquarters in Castle Rock, Colorado. The company’s stock currently goes for $31.44. For those who are not familiar with the term, Bitcoin mining refers to solving a computational puzzle to create a new Bitcoin.
The company has the miners at Massena in New York in addition to their Whinstone facility in Rockdale, Texas. The Newyork company is also co-owns the facility in New York. Riot and Coinmint entered a co-location hosting agreement to reduce the company’s production cost.
They acquired the Texas facility in May 26 this year therefore making it the single largest Bitcoin mining and hosting facility in North America. On October 20, 2021, an investor site tour was held on the facility.
Read more on Riot Bitcoin Inc. here.