Bitcoin

<a href="https://ultramining.com/news/en/riot-platforms-to-boost-efficiency-with-midas-immersion-coolings/" rel="noopener noreferrer nofollow">Riot</a> Platforms, Inc. (NASDAQ: <a href="https://ultramining.com/news/en/riot-platforms-to-boost-efficiency-with-midas-immersion-coolings/" rel="noopener noreferrer nofollow">RIOT</a>), a leader in Bitcoin mining, announced a significant expansion in its mining operations. They have ordered 18 EH/s of the latest <a href="https://ultramining.com/en/manufacturers/microbt/" rel="noopener noreferrer nofollow">MicroBT</a> <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/" rel="noopener noreferrer nofollow">Bitcoin miners</a>, mainly the advanced M66S model, for $290.5 million. This purchase marks a strategic move, further cementing Riot's position in the cryptocurrency <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">mining industry</a>, according to <a href="https://www.riotplatforms.com/riot-purchases-18-eh-s-and-secures-long-term-supply-of-hash-rate-from-microbt/" rel="noopener noreferrer nofollow">Riotplatforms</a>.
The purchase includes 66,560 cutting-edge miners, contributing to an initial <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">hash rate</a> of 18 EH/s. Additionally, Riot has secured options for up to 75 EH/s more, setting a trajectory to surpass 100 EH/s in <a href="https://ultramining.com/news/en/riot-battles-texas-heat-to-produce-410-btc-and-stabilize-energy-grid/" rel="noopener noreferrer nofollow">self-mining</a> capacity.&nbsp;
Breaking down the numbers, the order consists of different models, including the M56S++, M66, and M66S. These models boast impressive efficiency, with the M66S model standing out at 18.5 Joules per terahash. The total investment reflects an average price of approximately $16/TH.
This deal also strengthens Riot's long-term relationship with <a href="https://ultramining.com/en/manufacturers/microbt/" rel="noopener noreferrer nofollow">MicroBT</a>. The updated agreement provides Riot with a consistent supply of miners at a fixed price ceiling, ensuring stability in a market known for its volatility.&nbsp;
Riot's larger plan includes significant infrastructure development, particularly at their Corsicana Facility. This expansion aligns with their vertically-integrated strategy, emphasizing efficiency and sustainability in their operations. The investment in these advanced miners, especially those purpose-built for immersion cooling, signifies Riot's dedication to adopting cutting-edge technologies.

Massive Mining Move: Riot Platforms Invests in High-Efficiency Bitcoin Miners

Ultramining_Eng

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