Riot Platforms, Inc. has made a groundbreaking move in the Bitcoin mining industry by entering into a long-term purchase agreement with MicroBT Electronics Technology. The deal involves the acquisition of 33,280 state-of-the-art Bitcoin miners manufactured in the United States. There is also an option for Riot to purchase an additional 66,560 miners. With full deployment in 2024, the initial purchase is expected to increase Riot’s self-mining capacity to an impressive 20.1 exahashes per second. These miners are designed specifically for immersion cooling systems, which is ideal for Riot’s Corsicana Facility.
CEO Jason Les expressed his enthusiasm for the partnership and the acquisition of these cutting-edge miners. He highlighted their power and efficiency, specifically designed for immersion cooling systems. The new miners will contribute an additional 7.6 exahashes per second to Riot’s self-mining capacity.
The collaboration with MicroBT also marks a significant milestone for the Bitcoin mining industry in the United States. By manufacturing the miners domestically, Riot and MicroBT are strengthening the supply chain and creating new employment opportunities in Pittsburgh, PA.
The expansion plans of Riot and the confidence displayed by MicroBT and other mining companies demonstrate a positive outlook on Bitcoin’s future. This follows Hut 8’s recent announcement of securing $50 million to support growth initiatives. The continuous growth and investment in the mining sector reflect a strong belief in the long-term potential of Bitcoin.
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