Riot Platforms, a prominent Bitcoin mining company in the United States, has recently acquired 33,280 Bitcoin miners from MicroBT for its facility in Texas. The total cost of this purchase amounted to $162.9 million. In an official press statement released on June 26th, the mining firm revealed that these new mining rigs would significantly boost their self-mining capacity by 7.6 exahashes per second (EH/s).
According to Riot Platforms CEO Jason Les, once the machines are fully operational in the first quarter of 2024, the company’s self-mining capacity will soar to 20.1 EH/s. Les also emphasized the importance of the new miners’ “immersion cooling systems,” which are specifically designed for their Corsicana Facility.
The shipment of these 33,280 machines, comprising 8,320 M56S+ models with a hash rate of 220 terahashes per second (TH/s) and 24,960 M56S++ devices with a hash rate of 230 TH/s, is expected to arrive in December. Consequently, the deployment of these units will take place in mid-2024.
Riot Platforms further announced its potential acquisition of an additional 66,560 M56S++ units by December 31, 2024. If executed, this purchase would bolster their self-mining capacity by 15.3 EH/s. However, the company has the option to partially or entirely proceed with this expansion plan.
The mining industry has seen a surge in operations expanding internationally. Iris Energy, an Australian cryptocurrency miner, disclosed its intentions to increase its hash rate capacity by 63% to 9.1 EH/s by early 2024. Similarly, Blockstream, a Canadian crypto miner, secured $125 million in financing to enhance its institutional Bitcoin mining colocation services. Additionally, CleanSpark, a U.S.-based crypto miner, made headlines in February when it purchased 20,000 mining machines for $32.3 million.