The purchase agreement represents a 35% increase in Riot’s current, according to its website. Riot also has the option to secure an additional 66,650 M56S++ miners from MicroBT under the same terms, which could expand its computing power by a further 15.3 EH/s to 35.4 EH/s, if executed.
The new miners, designed and produced specifically for immersion cooling systems — like those used at Riot’s Corsicana facility — are among the most powerful and efficient miners to date. “These new miners will contribute an additional 7.6 EH/s to Riot’s self-mining capacity when fully deployed and will further enhance our already strong fleet efficiency in advance of the upcoming Bitcoin halving,” Riot CEO Jason Les said in the announcement.“The M56S+ and M56S++ are the most powerful machines we have developed,” said MicroBT COO Jordan Chen.
The delivery of the new miners is set to begin in December 2023, with deployment planned to start in the first quarter of 2024.$259.2 million in revenue for the year ending December 2022. It also tripled its hashrate last year. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Riot Platforms to add 33,000 Bitcoin miners ahead of 2024 halvingRiot Platforms has purchased another 33,280 Bitcoin miners ahead of the next Bitcoin halving event, expected to take place in mid-2024. The firm purchased the rigs from mining manufacturer MicroBT for $162.9 million. RiotPlatforms The rigs, which were sourced from mining manufacturer MicroBT, will boost the firm’s self-mining capacity by 7.6 exahashes per second (EH/s) and comes “in advance” of Bitcoin’s next halving cycle, which is set to take place in mid-2024.
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