The newly acquired Bitcoin mining equipment will increase Riot Platform's self-mining capacity by 7.6 EH/s.
In anticipation of the next Bitcoin halving cycle due in mid-2024, Riot Platforms, a leading global Bitcoin mining firm, has announced the acquisition of 33,280 "next-generation" Bitcoin miners for its Texas facility.
The purchase, costing $162.9 million, comes from renowned mining manufacturer MicroBT.
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This significant acquisition will enhance Riot Platform's self-mining capacity by 7.6 exahashes per second (EH/s).
Speaking about the purchase on June 26th, Riot Platforms CEO Jason Les stated that the machines' installation by the first quarter of 2024 will lift the firm’s self-mining capacity to 20.1 EH/s:
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.
The CEO further shared that the new rigs were constructed for "immersion cooling systems" like those employed at the firm's Corsicana facility. The acquired machines include 8,320 M56S+ models with a hash rate of 220 terahashes per second (TH/s) and 24,960 M56S++ models, delivering a slightly higher hash rate of 230 TH/s.
However, full deployment of these miners is expected only by mid-2024, with the arrival of the machines slated for December 2023.
Additionally, Riot Platforms announced the possibility of acquiring another 66,560 M56S++ models by the end of 2024, adding 15.3 EH/s to the firm's self-mining capacity. The decision to proceed with this acquisition, in part or in full, remains at the company's discretion.
In other Bitcoin mining-related news, the crypto exchange Binance debuted the Bitcoin cloud mining service.
The strategic steps by Riot Platforms indicate its preparation for the upcoming Bitcoin halving, intending to augment its self-mining capacity. These preparations, along with the increased activity in the Bitcoin mining space, highlight the evolving landscape and robust outlook of the industry.
