Riot Platforms, one of the world’s largest bitcoin (BTC) mining companies, has purchased 33,280 “next-generation” bitcoin mining machines for its Texas factory at a cost of $162.9 million.
The machines, from mining manufacturer MicroBT, will boost the company’s self-mining capacity by 7.6 exahashes/s (EH/s) and “earn ahead” for Bitcoin’s next halving cycle, scheduled for 2019 Happens mid-year. 2024.
Riot purchased a 7.6 EH/s next generation miner made in the USA from MicroBT.
Read today’s press release for more information: https://t.co/esLToy798H
— Riot Platforms, Inc. (@RiotPlatforms) June 26, 2023
Riot Platforms CEO Jason Les pointed out On June 26th, the deal will increase the company’s self-mining capacity to 20.1 EH/s after installing the machines in Q1 2024:
“These new miners will contribute an additional 7.6 EH/s to Riot’s self-mining capacity when fully deployed, and will further increase the efficiency of our already powerful miners ahead of the upcoming Bitcoin halving.”
Rice added that we built equipment specifically for “immersion cooling systems,” such as the one used at the company’s Corsicana factory.
Of the 33,280 machines, 8,320 are M56S+ models with a hash rate of 220 megahertz hashes per second (TH/s), while the remaining 24,960 M56S++ have a slightly stronger hash rate of 230 TH/s.
Riot said it may also purchase 66,560 M56S++ models by December 31, 2024, increasing the company’s self-mining capacity by 15.3 EH/s. 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 update for May. Riot produced 676 #bitcoin The deployed hash rate is 10.5 exahash per second.
Hear from Riot’s VP of Research, @Bitcoin Pierrewhen he talks about Riot’s active community… pic.twitter.com/lD3YJVkMct
— Riot Platforms, Inc. (@RiotPlatforms) June 16, 2023
Despite the news, Riot shares fell 7.2 percent to $10.77 on June 26, according to to Google Finance.
related: Buying Bitcoin Is Preferable to Mining Bitcoin Most of the Time – Analysis
Meanwhile, on June 21, bitcoin miner Akron Energy Announce The company purchased a 200 megawatt (MW) mining facility in Hannibal, Ohio, for an undisclosed amount.
It’s the Sydney-based company’s first foray into the US following a $26 million investment Increase June 20.
The company plans to immediately complete the first design phase of the Hannibal facility, which it hopes will provide 100 megawatts of power.
Custody services will be offered to the firm’s institutional-scale clients in the bitcoin industry.
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