Riot Platforms Buys New Bitcoin Mining Rigs for $291 Million From MicroBT

Bitcoin mining company, Riot Platforms has purchased another 66,560 Bitcoin mining rigs from MicroBT in a $291 million deal.
Riot Platforms Buys $291M New Bitcoin Mining Rigs From MicroBT

Riot Platforms, one of the biggest Bitcoin mining businesses, paid almost $291 million to MicroBT for 66,560 brand-new Bitcoin mining rigs.

In an official statement, Riot stated that it has ordered 66,560 rigs (18 EH/s) of the newest generation of Bitcoin miners, including the brand-new M66S machines. Riot will be the first with a 38 EH/s self-mining hash rate capacity thanks to its most recent acquisition.

Additionally, Riot and MicroBT have an agreement for the acquisition of 265,000 more units at the same price, which will enable the mining company to eventually reach a capacity of over 100 EH/s.

CEO of Riot Jason Les stated, “I am thrilled to announce the largest order of hash rate in Riot’s history.” “We will continue to own and operate one of the largest and most productive fleets of Bitcoin miners in the world thanks to this purchase order and updated Agreement.”

Riot has already made two significant acquisitions; in June, the company bought 33,280 miners from MicroBT. According to Riot, the freshly purchased 66,560 miners will be delivered and put into service in the second half of 2024, while the minders that were already purchased will be put into service in the first quarter of that year.

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