Member-only story
Bitcoin Mining Firm Riot Secures 33,000 New Rigs for $162 Million
Riot Platforms, a prominent player in the world of Bitcoin mining, is set to significantly enhance its hashrate capacity with the acquisition of 33,280 mining rigs from MicroBT. This substantial purchase, totaling $162.9 million, solidifies Riot’s commitment to expanding its operations and staying ahead in the competitive cryptocurrency mining industry. While the delivery and deployment of these machines are scheduled for late 2023 and early 2024, respectively, Riot’s CEO, Jason Les, has expressed enthusiasm about the cutting-edge technology and enhanced efficiency that these miners will bring to their Corsicana Facility.
Unveiling the Massive ASIC Purchase
The Application-Specific Integrated Circuit (ASIC) order made by Riot Platforms represents a remarkable investment in the mining sector. Amid a surge of similar acquisitions by competing firms, Riot’s purchase stands out for its size and potential impact on their mining capabilities. With the order valued at $162.9 million, Riot aims to bolster its infrastructure and position itself for long-term success in the dynamic Bitcoin mining landscape.
Delivery and Deployment Timeline
While the anticipation surrounding Riot’s substantial ASIC purchase is palpable…
