Bitcoin

<a href="https://ultramining.com/news/en/riot-platforms-record-bitcoin-production-and-strategic-partnerships/">Riot Platforms</a>, a global leader in Bitcoin mining, has taken a major step forward. The firm purchased 33,280 next-generation Bitcoin miners for its Texas-based mining facility. This acquisition cost the company a hefty $162.9 million, according to <a href="https://cointelegraph.com/news/riot-platforms-add-bitcoin-miners-ahead-of-2024-halving">cointelegraph</a>.&nbsp;&nbsp; 
Sourced from the mining manufacturer MicroBT, these rigs will supercharge Riot's self-mining capacity. The addition is a strategic move in anticipation of Bitcoin's next halving cycle, due in mid-2024. The purchase will increase the firm’s mining capacity by 7.6 exahashes per second (EH/s). 
Riot Platforms CEO, Jason Les, confirmed the news on June 26. Les stated that the company's self-mining capacity will reach a staggering 20.1 EH/s. This will occur once the installation completes in the first quarter of 2024. 
Les also highlighted the specific design of these new miners. He mentioned that they are built for "immersion cooling systems". This suggests that they are suitable for the conditions at the firm's Corsicana facility. 
The rigs will arrive in December, with full deployment expected by mid-2024. Of the total, 8,320 are M56S+ models, while 24,960 M56S++ models boast slightly higher power. 
The firm may also acquire another 66,560 M56S++ models before the end of 2024. This would add a further 15.3 EH/s to Riot's self-mining capacity. Despite this ambitious expansion, Riot's share price fell 7.2% to $10.77 on June 26. 
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Riot Platforms Boosts Mining Power with $162.9M Bitcoin Miner Purchase

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