Riot Platforms, Inc. has recently entered into an ambitious long-term agreement with MicroBT for the purchase of 33,280 next-generation Bitcoin miners. These high-performance miners will be produced by MicroBT in their United States facility, specifically dedicated to Riot’s Corsicana facility operations.
This $162.9 million deal is set to greatly enhance Riot’s self-mining hash rate capacity, raising it to an impressive 20.1 EH/s by the completion of the equipment deployment. The delivery of the new Bitcoin miners is expected to commence in December 2023, with full miner deployment planned for the first quarter of 2024.
In addition to their initial purchase, Riot has managed to secure an option for the acquisition of up to 66,560 additional M56S++ miners from MicroBT. Should Riot exercise this option, their potential self-mining capacity could reach a staggering 35.4 EH/s.
Riot has until December 31, 2024, to execute this option, allowing for expanded mining operations on an as-needed basis.
The next-generation Bitcoin miners from MicroBT are designed to be among the most powerful and efficient on today’s market. These units, compatible with immersion cooling systems, will provide an extra 7.6 EH/s to Riot’s self-mining capacity, solidifying their place as market leaders in this rapidly growing industry.
This landmark partnership between Riot and MicroBT aims to establish a robust domestic supply chain in the United States. The agreement not only brings more Bitcoin mining options to the domestic market, but it also welcomes the creation of new, highly skilled job opportunities in the Pittsburgh, PA region, where MicroBT will manufacture the miners.