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<a href="https://crypto.news/tag/riot-blockchain/" data-type="link" data-id="https://crypto.news/tag/riot-blockchain/">Riot Platforms</a>, Inc. has significantly expanded its Bitcoin mining operations by executing a large-scale purchase agreement with MicroBT Electronics Technology Co., Ltd. 
This <a href="https://www.globenewswire.com/news-release/2023/12/04/2790068/0/en/Riot-Purchases-18-EH-s-and-Secures-Long-Term-Supply-of-Hash-Rate-From-MicroBT.html" data-type="link" data-id="https://www.globenewswire.com/news-release/2023/12/04/2790068/0/en/Riot-Purchases-18-EH-s-and-Secures-Long-Term-Supply-of-Hash-Rate-From-MicroBT.html" target="_blank" rel="noopener">deal</a> involves acquiring 66,560 latest-generation Bitcoin miners, supplementing a previous order of 33,280 miners. 
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 <a href="https://twitter.com/search?q=%24Riot&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$Riot</a> Exercises Purchase Option on 18 EH/s of Latest Generation Immersion Miners from MicroBT, and Secures Additional Purchase Options Providing a Path to Exceed 100 EH/s. – Riot places order for 18 EH/s of latest generation MicroBT Bitcoin miners, primarily consisting of the… <a href="https://t.co/tEEudV6Z8n" target="_blank">pic.twitter.com/tEEudV6Z8n</a>— Riot Platforms, Inc. (@RiotPlatforms) <a href="https://twitter.com/RiotPlatforms/status/1731675595275190753?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 4, 2023</a>
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 You might also like: <a href="https://crypto.news/antpool-surpasses-foundry-as-top-bitcoin-miner/"> AntPool surpasses Foundry as top Bitcoin miner </a> 
The order, totaling $290.5 million, showcases Riot’s ambition to enhance its mining capacity to over 38 EH/s by H2 2025. Notably, this includes the M66S model, which boasts an efficiency of 18.5 Joules per terahash, signaling a move towards more energy-efficient <a href="https://crypto.news/tag/mining/" data-type="link" data-id="https://crypto.news/tag/mining/">mining</a> practices. All units are to be manufactured in the United States, potentially mitigating geopolitical risks associated with overseas production. 
Due to the volatile nature of the <a href="https://crypto.news/market-cap/" data-type="link" data-id="https://crypto.news/market-cap/">cryptocurrency market</a>, significant investments like these can be precarious. The commitment to such a large-scale purchase locks Riot into a specific path, potentially limiting its flexibility in adapting to market changes. 
The agreement with <a href="https://crypto.news/tag/microbt/" data-type="link" data-id="https://crypto.news/tag/microbt/">MicroBT</a> also includes options for Riot to purchase up to 265,000 additional miners. This could elevate Riot’s capacity to over 100 EH/s, a figure that, while impressive, raises questions about the long-term sustainability of such rapid growth, especially in the context of environmental concerns and regulatory uncertainties surrounding the <a href="https://crypto.news/markets/" data-type="link" data-id="https://crypto.news/markets/">cryptocurrency industry</a>. 
Riot’s CEO, Jason Les, expressed optimism about owning and operating one of the most efficient Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/">BTC</a>) mining fleets worldwide. MicroBT’s COO, Jordan Chen, also echoed this sentiment, emphasizing the strong relationship between the two companies. 
 Read more: <a href="https://crypto.news/bitcoin-mining-hits-record-high-difficulty/"> Bitcoin mining hits record high difficulty </a>

Riot acquires 18 EH/s hash rate and establishes extended agreement with MicroBT for future supplies

crypto.news

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