1 year ago
Texas-based Bitcoin (BTC) miner Riot Platforms secured its largest-ever bid of hash complaint done the acquisition of 66,560 units of BTC miners, representing 18 EH/s, from MicroBT for $290.5 million, according to a Dec. 4 statement.
Riot furthered that it besides obtained options to get 265,000 further miners from MicroBT, which would adhd up to 75 EH/s to its hashrate. This move, the steadfast explained, aligns with its extremity of achieving a 100 EH/s hash complaint capacity. The miner had antecedently announced the acquisition of 33,280 miners successful June.
Per the statement, the deployment for the initially purchased 33,280 miners volition instrumentality spot during the archetypal 4th of adjacent twelvemonth up of the highly anticipated BTC halving event, portion the transportation and deployment for the caller purchases volition commence during the 2nd fractional of the aforesaid year.
The Bitcoin miner added that it expects the deployments of each miners it purchased to beryllium completed by the 2nd fractional of 2025. According to Riot, by the 2nd fractional of 2025, their self-mining capableness should transcend a hash complaint of 38 EH/s.
CEO Jason Les described the bid arsenic the company’s largest hash-rate purchase. He expressed assurance successful maintaining ownership and cognition of 1 of the world’s astir important and businesslike Bitcoin mining fleets.
Les further emphasized Riot’s enthusiasm successful strengthening its collaboration with MicroBT, reinforcing their pursuit of achieving the 100 EH/s milestone. He added:
“Alongside Riot’s committedness for hash complaint growth, we are actively gathering retired the infrastructure astatine our Corsicana Facility, accordant with our long-standing, proven, vertically-integrated strategy.”
Earlier today, CryptoSlate Insight noted that Bitcoin is witnessing a important surge successful its hash rate, with the caller figures mounting caller single-day records. The update noted that the blockchain network’s adjacent trouble accommodation is poised to beryllium the seventh consecutive affirmative adjustment.
Meanwhile, this acquisition news, alongside BTC’s rally past $41,000, pushed Riot’s stocks up by astir 6% successful the past 24 hours, reaching astir $14.52 arsenic of property time, according to Nasdaq data.
The station Bitcoin miner Riot Platforms gears up for halving with strategical $290M hardware investment appeared archetypal connected CryptoSlate.
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