RIOT the "Company" today announced it has entered into a definitive agreement to acquire cryptocurrency mining equipment consisting of AntMiner S9s and AntMiner L3s, all manufactured by industry leader Bitmain. Riot has secured a location for the operation of the mining equipment at a competitive electric cost, with infrastructure in place for expansion. The transaction is anticipated to close on or before November 15, Mining bitcoin helps secure the bitcoin blockchain, while providing us direct exposure bitcoin 2 mh statements accumulating bitcoin in the process.
The mining equipment will be strategically located to utilize hydroelectric power to help minimize utility costs while maximizing potential efficiency and output.
Riot Blockchain intends to utilize the mining equipment and lease existing datacenter infrastructure to provide all services necessary for its operations. The total hashing power of the equipment is expected to be 9. The blockchain is a decentralized and encrypted ledger that offers bitcoin 2 mh statements secure, efficient, verifiable and permanent way of storing records and other information without the need for intermediaries.
These protocols are the backbone of numerous digital cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Blockchain protocols have a wide range of use, including processing transactions, managing medical records, and recording votes and proof of ownership across a far-reaching spectrum of applications.
It is establishing an Advisory Board with technical experience intending to become a leading authority and supporter of blockchain, while providing investment exposure to the rapidly growing blockchain ecosystem. For more information, visit http: The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company.
Because such statements are subject to risks and uncertainties, actual results bitcoin 2 mh statements differ materially from those expressed or implied by such forward-looking statements.
Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect.
Actual results and the timing of events could differ materially from those bitcoin 2 mh statements in such forward-looking statements as a result of various risks and uncertainties.
Bitcoin 2 mh statements information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release bitcoin 2 mh statements to the Company may be found in the Company's periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled "Risk Factors", including the Company's Risk Bitcoin 2 mh statements related to its blockchain and digital currency related strategies and risks contained in the Current Report on Form 8-K filed October 23,copies of which may be obtained from the SEC's website at www.
The parties do not undertake any obligation to update forward-looking statements contained in this press release. Safe Harbor The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company.
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