Riot padsthe largest public bitcoin miner in the United States by capacity developed, has made a groundbreaking announcement regarding a partnership with Bitcoin ASIC miner, MicroBT. The two major Bitcoin companies will bring the production of MicroBT ASICs to America. The collaboration aims to secure miners at Riot’s Corsicana facility, significantly enhancing the company’s mining capabilities. According to a press release shared with Bitcoin Magazine, this development comes as Riot’s Corsicana facility is set to increase the company’s developed capacity to 1.6 GW.
“This agreement squarely rejects every major criticism of our industry,” the press release reads. “For those who are concerned with our energy consumption, these machines will be more efficient than ever… For those who say Bitcoin mining data centers don’t really create jobs, we are helping create hundreds of jobs, between our MicroBT manufacturing facility in Pennsylvania, and Our state-of-the-art data center is coming to Corsicana, Texas.”
One of the most notable benefits of this partnership is the expected increase in Riot’s self-mining hash rate capacity. The press release states that by mid-2024, when machines are fully installed from this demand, Riot’s self-mining hash rate capacity is expected to increase by about 61% to more than 20 EH/s. This significant capacity increase cements Riot’s position as a major player in the bitcoin mining industry.
Moreover, this partnership between Riot and MicroBT also marks a pivotal moment for the industry. Bitcoin mining manufacturing has traditionally been concentrated in Asia, but this new partnership with Riot strengthens the domestic supply chain in the United States. It expands the options available to bitcoin miners, offering them a solid selection of machines.
Most importantly, the collaboration between Riot and MicroBT will not only have a positive impact on the industry, but also on local job creation. The machines will be manufactured by MicroBT at a new facility in the US, creating jobs in the local area.
Riot’s partnership with MicroBT marks a major milestone in the bitcoin mining industry. With increased hashrate, local manufacturing, and job creation, this collaboration is set to shape the future of bitcoin mining in the US and contribute to the growth of the industry as a whole.