Riot Blockchain, one of the largest Bitcoin mining firms globally, has entered into a long-term purchase agreement with MicroBT, a China-based Bitcoin miner manufacturer, securing an initial order of 33,280 next-generation Bitcoin miners. Once installed in the first quarter of 2024, these machines will boost Riot’s self-mining capacity to 20.1 EH/s. The CEO of Riot, Jason Les, stated that these new miners are designed specifically for immersion cooling systems, which will be used at Riot’s Texas facility. The cost of the initial order is approximately $163 million, with an option to purchase an additional 66,560 machines at the same terms. This partnership aims to establish a robust domestic supply chain in the US, with MicroBT manufacturing the miners in a Pittsburgh facility, creating new jobs in the region. Despite the recent winter storms damaging Riot’s Rockdale Facility, the company generated 740 BTC in January, a 62% increase compared to January 2022.
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