Posted 12/5/2023, 4:26:33 AM
Riot Platforms Makes Massive $291M Bitcoin Mining Rig Purchase Ahead of 2024 Halving
- Riot Platforms buying $291M in Bitcoin mining rigs from MicroBT, one of its largest hash rate orders ever
- Purchase includes 66,560 miners, adding 18 EH/s to Riot's operations
- 48,000+ of the miners are MicroBT's latest M66S model with 250 TH/s hash rate
- Miners will start deploying in Q1 and Q2 2024; expected to bring Riot's capacity to 38 EH/s by 2H 2025
- Purchase motivated by upcoming Bitcoin halving in April 2024; Riot stock up 345% in 2023