Riot Platforms, a major Bitcoin mining company, has purchased 33,280 “next-generation” Bitcoin miners from MicroBT for $162.9 million. The new machines will add 7.6 exahashes per second (EH/s) to the firm’s self-mining capacity, bringing it to 20.1 EH/s when fully deployed in Q1 2024. Riot plans to use the rigs with immersion cooling systems and bought them in advance of the 2024 halving cycle. The machines won’t arrive until December, and their full deployment is expected by mid-2024. Riot may also purchase an additional 66,560 M56S++ models before December 31, 2024, which would add 15.3 EH/s to its self-mining capacity. The news did not prevent Riot’s share price from falling 7.2% to $10.77 on June 26.
In related news, Sydney-based Bitcoin miner Akron Energy announced on June 21 that it had bought a 200MW mining facility in Hannibal, Ohio, for an undisclosed amount. It was its first expansion into the US, following a $26 million raise the previous day. Akron Energy plans to complete the facility’s first design stage immediately and provide hosting services to institutional-scale clients in the Bitcoin industry.