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One of the world’s largest bitcoin mining firms – Riot Blockchain – has announced securing an initial order of 33,280 next-generation bitcoin miners after entering into a long-term purchase agreement with China-based bitcoin miner manufacturer MicroBT.
Riot said the deal will increase the Colorado-based company’s self-mining capacity to 20.1 EH/s once the machines are installed in the first quarter of 2024.
Riot increased its hashrate capacity
Company CEO Jason Less announces Riot’s first order for bitcoin miners at its Corsicana facility Explained The newly added ones are one of the most powerful and efficient miners ever created for bitcoin mining. The executive further added that these new models are specifically designed and produced for immersion cooling systems, such as those that will be used at Riot’s Texas facility.
“These new miners will contribute an additional 7.6 EH/s to Riot’s self-mining capacity when fully deployed and further increase the efficiency of our already strong fleet ahead of the upcoming bitcoin halving.”
According to the official statement, the initial order for the protocol is 33,280 machines, which cost approximately $163 million or $21.50 per terahash (TH). Riot has an option to buy an additional 66,560 machines on similar terms before the end of 2024.
The new partnership between the two companies is expected to secure a “robust” domestic supply chain in the United States. In addition, MicroBT will be tasked with manufacturing these miners at the Pittsburgh facility which will result in the creation of new jobs in the region.
MicroBT COO Jordan Chen also said that all the machines that will be manufactured will help expand the former’s operations in the country, helping them increase their market share in the US. The M56S+ and M56S++ models purchased by Riot are reportedly the most powerful machines developed by MicroBT.
Riot mined 740 BTC in January
The recent winter storm in Texas damaged the Rockdale facility, reducing Riot’s hash rate capacity. Nevertheless, the company generated 740 BTC in January, a 62% increase from January 2022 and a new monthly all-time high.
During the same period, Riot also announced plans to add new members, while its rival Core Scientific laid off a large portion of its staff.
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One of the world’s largest bitcoin mining firms – Riot Blockchain – has announced securing an initial order of 33,280 next-generation bitcoin miners after entering into a long-term purchase agreement with China-based bitcoin miner manufacturer MicroBT.
Riot said the deal will increase the Colorado-based company’s self-mining capacity to 20.1 EH/s once the machines are installed in the first quarter of 2024.
Riot increased its hashrate capacity
Company CEO Jason Less announces Riot’s first order for bitcoin miners at its Corsicana facility Explained The newly added ones are one of the most powerful and efficient miners ever created for bitcoin mining. The executive further added that these new models are specifically designed and produced for immersion cooling systems, such as those that will be used at Riot’s Texas facility.
“These new miners will contribute an additional 7.6 EH/s to Riot’s self-mining capacity when fully deployed and further increase the efficiency of our already strong fleet ahead of the upcoming bitcoin halving.”
According to the official statement, the initial order for the protocol is 33,280 machines, which cost approximately $163 million or $21.50 per terahash (TH). Riot has an option to buy an additional 66,560 machines on similar terms before the end of 2024.
The new partnership between the two companies is expected to secure a “robust” domestic supply chain in the United States. In addition, MicroBT will be tasked with manufacturing these miners at the Pittsburgh facility which will result in the creation of new jobs in the region.
MicroBT COO Jordan Chen also said that all the machines that will be manufactured will help expand the former’s operations in the country, helping them increase their market share in the US. The M56S+ and M56S++ models purchased by Riot are reportedly the most powerful machines developed by MicroBT.
Riot mined 740 BTC in January
The recent winter storm in Texas damaged the Rockdale facility, reducing Riot’s hash rate capacity. Nevertheless, the company generated 740 BTC in January, a 62% increase from January 2022 and a new monthly all-time high.
During the same period, Riot also announced plans to add new members, while its rival Core Scientific laid off a large portion of its staff.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
