Riot Platforms: one of the largest Bitcoin in the world (BTC) mining companies: Has purchased 33,280 "next-generation" Bitcoin miners for its Texas facility, at a cost of $162.9 million.
The rigs, which were sourced from mining manufacturer MicroBT, will boost the company's auto-mining capacity by 7.6 exhashes per second (EH/s) and arrive "before" Bitcoin's Next Halving Cycle, which will take place in mid-2024.
Riot buys 7.6 EH/s of next-gen miners from MicroBT, made in the US.
Read more in today's press release: https://t.co/esLToy798H
โRiot Platforms, Inc. (@RiotPlatforms) June 26, 2023
Jason Les, CEO of Riot Platforms fixed on June 26 that the deal will increase the self-mining ability to 20.1 EH/s once the machines are installed in the first quarter of 2024:
โThese new miners will contribute an additional 7.6 EH/s to Riot's self-mining capacity when fully deployed and will further improve our already strong fleet efficiency ahead of the upcoming Bitcoin halving.โ
He added equipment we built specifically for "immersion cooling systems," like those used at the company's Corsicana facility.
Of the 33,280 machines, 8,320 are M56S+ models with a hash rate of 220 terahashes per second (TH/s), while the remaining 24,960 M56S++ are slightly more powerful at 230 TH/s.
However, the machines will not arrive until December and the full deployment of the miners will not be completed until mid-2024.
Riot said it could also purchase 66,560 M56S++ models by December 31, 2024, which would add 15.3 EH/s to the company's own mining capacity. The company may choose to exercise this option in whole or in part.
Join our team as they walk you through Riot's production and operations updates for the month of May. Riot produced 676 #Bitcoin and had a deployed hash rate of 10.5 exhash per second.
Hear from Riot's VP of Research, @BitcoinPierrewhile referring to the active Riot community... pic.twitter.com/lD3YJVkMct
โRiot Platforms, Inc. (@RiotPlatforms) June 16, 2023
Despite the news, Riot's stock price fell 7.2% to $10.77 on June 26. according to Google Finance.
Related: Buying Bitcoin is preferable to mining BTC in most circumstances โ Analysis
Meanwhile, on June 21, Bitcoin miner Akron Energy Announced which purchased a 200-megawatt (MW) mining facility in Hannibal, Ohio, for an undisclosed amount.
It is the first expansion of the Sydney-based firm in the United States after a $26 million investment increase on June 20.
The firm plans to immediately complete the first stage of design for the Hannibal facility, which it expects to provide 100 MW of power.
The hosting services will be provided to the company's institutional-scale clients in the Bitcoin industry.
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