The ongoing COVID-19 pandemic has affected every aspect of the human life, and the crypto industry is no exception. As some firms scale back or shut down completely, bitcoin mining company, Riot has found ways to lessen operational costs during this pandemic to cut down loss.

In a press release by the company yesterday, Riot announced its partnership with crypto data company Coinmint, to move part of its bitcoin mining operations to Coinmint’s New York facilities. According to Riot, this move will enable it to lower its production costs, its effects on the environment, and potentially expand its total hashing capacity.

As part of verifying this move, Riot will relocate a portion of its recently purchased Bitmain Antminer S17s to Coinmint’s New York facility for initial operational, security, and reporting controls testing and verification. The newly purchased miners were part of Riot’s plans to expand its Oklahoma City facility. More than 1,000 additional S17 Antminers were brought online.

The company noted in its announcement that it has assessed the risks of this transition, which includes exposures and potential issues related to the COVID-19. It believes that the risks are reasonably mitigated due to the “plug and play” of Coinmint’s facility.

The news about the Coinmint partnership comes just 2 weeks after Riot had submitted its annual 10-K report to the SEC. The report discussed the hazards the company’s operation faces due to the COVID-19 pandemic. Riot stated in the report that its ability to mine bitcoin has negatively been affected by several factors, such as the isolation and self-quarantine practices of its workers.

Riot also stated in the report that it has been facing challenges with its supply chain. Due to the pandemic, factories have been shutting down and borders are being closed, in order to contain the spread of the virus. This has negatively affected the company when it comes to obtaining the equipment it needs for its business.