Riot Blockchain, one of the largest Bitcoin mining companies in the world, has announced that it has secured an initial order for 33,280 next-generation Bitcoin miners after entering into a long-term purchase agreement with China-based bitcoin mining manufacturer MicroBT.
Riot said the deal will boost the Colorado-based company’s self-mining capacity to 20.1 EH/s once the machines are installed in the first quarter of 2024.
Riot is ramping up its ability to Hashrate
Announcing Riot’s first order of bitcoin miners for its Corsicana facility, company CEO Jason Leigh to explain The new additions are among the most powerful and efficient miners out there for Bitcoin mining. The CEO also added that these new models are designed and produced specifically for immersion cooling systems, such as those that will be used at Riot’s facility in Texas.
“These new miners will contribute an additional 7.6 EH/s to Riot’s self-mining capability upon full deployment and will boost our already strong fleet efficiency ahead of the upcoming Bitcoin halving.”
According to the official release, the initial order of hours of the agreement in 33,280 machines cost about $163 million, or $21.50 per terahash (TH). Riot has the option to purchase an additional 66,560 machines before the end of 2024 on the same terms.
The new partnership between the two companies is expected to secure a “strong” domestic supply chain in the United States. Besides, MicroBT will be tasked with manufacturing these miners at the Pittsburgh facility leading to new job creation in the region.
All of the machines to be built will help expand the company’s previous operations in the country, said Jordan Chen, MicroBT’s COO, thus enabling it to increase its market share in the United States. The M56S+ and M56S++ models purchased by Riot are said to be the most powerful machines MicroBT has ever developed.
Riot Mined 740 Bitcoins in January
Recent winter storms in Texas damaged the Rockdale facility, reducing Riot’s hash rate capacity. Despite this, the company made 740 bitcoins in January, an increase of 62% compared to January 2022, and a new all-time monthly high.
During the same period, Riot also announced plans to bring in new members even as rival Core Scientific laid off a significant portion of its staff.
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