Riot Platforms — one of the world’s largest bitcoin (BTC) mining companies — has purchased 33,280 “next-generation” bitcoin miners for its Texas facility for $162.9 million.
The rigs, sourced from mining manufacturer MicroBT, will boost the company’s self-mining capacity by 7.6 exahashes per second (EH/s) and come “ahead” of the next bitcoin halving cycle, which is set to take place in mid-2019 . 2024
Jason Les, CEO of Riot Platforms, stated on June 26 that the deal will increase the company’s self-mining capacity to 20.1 EH/s once the machines are installed in Q1 2024:
“These new miners, when fully deployed, will add an additional 7.6 EH/s to Riot’s self-mining capacity and further increase the efficiency of our already strong fleet ahead of the upcoming Bitcoin halving.”
Les added the equipment we built specifically for “immersion cooling systems” such as 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 full deployment of the miners will not be complete until mid-2024.
Riot said it could also purchase 66,560 M56S++ models before December 31, 2024, increasing the company’s self-mining capacity by 15.3 EH/s. The company can exercise this option in whole or in part.
Despite the news, Riot’s stock price fell 7.2% to $10.77 on June 26, according to Google Finance.
Related: In most cases, buying Bitcoin is preferable to BTC mining – analysis
Meanwhile, on June 21, Bitcoin miner Akron Energy announced that it had bought a 200-megawatt mining rig in Hannibal, Ohio, for an undisclosed amount.
It is the Sydney-based company’s first expansion into the United States after receiving a $26 million capital raise on June 20.
The company plans to complete the initial design phase of the Hannibal plant promptly and hopes to deliver 100MW of power.
The hosting services are provided to the Company’s institutional clients in the Bitcoin industry.
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