Riot Platforms – one of the largest bitcoin (BTC) mining companies in the world – purchased 33,280 “next-gen” bitcoin miners for its facility in Texas, at a cost of $162.9 million.
The rigs, which originated from mining maker MicroBT, will boost the company’s self-mining capacity by 7.6 exahashes per second (EH/s) and come ‘ahead’ of Bitcoin’s next halving cycle. , which is expected to take place in mid-2024.
Riot buys 7.6 EH/s of next-gen miners from MicroBT, made in the USA.
Learn more in today’s press release: https://t.co/esLToy798H
—Riot Platforms, Inc. (@RiotPlatforms) June 26, 2023
Jason Les, CEO of Riot Platforms declared on June 26, the agreement will increase the company’s self-extraction capacity to 20.1 PE/s once the machines are installed in the first quarter of 2024:
“These new miners will contribute an additional 7.6 EH/s to Riot’s self-mining capacity when fully deployed and further improve the already strong efficiency of our fleet ahead of the next Bitcoin halving.”
Les added the rigs we’ve built specifically for “immersion cooling systems,” such as those used at the company’s Corsicana facilities.
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.
Riot said it could also buy 66,560 M56S++ models before December 31, 2024, adding 15.3 PE/s to the company’s self-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 has produced 676 #Bitcoins and had a deployed hash rate of 10.5 exahash per second.
Hear from Riot’s VP of Research, @BitcoinPierreas he talks about Riot’s active community… pic.twitter.com/lD3YJVkMct
—Riot Platforms, Inc. (@RiotPlatforms) June 16, 2023
Despite the news, Riot’s stock price fell 7.2% to $10.77 on June 26, according at Google Finance.
Related: Buying Bitcoin Is Better Than Mining BTC In Most Cases – Analysis
Meanwhile, on June 21, Bitcoin miner Akron Energy announcement that he purchased a 200 megawatt (MW) mining facility in Hannibal, Ohio, for an undisclosed amount.
This is the Sydney-based company’s first expansion into the United States after a $26 million investment increase June 20.
The company plans to immediately complete the first design stage of the Hannibal facility, which it hopes will deliver 100 MW of power.
The hosting services will be provided to the company’s institutional clients in the bitcoin industry.
Magazine: Bitcoin 2023 in Miami tackles “shitcoins on Bitcoin”
