Riot will acquire 66,560 WhatsMiner brand MicroBT. This is the most largest order d’ASICs from listed bitcoin miner since its creation. Investment cost: over 290 million dollars.
The American Bitcoin mining company Riot announced on Monday that it had reached an agreement to purchase 66,560 latest-generation miners from Chinese manufacturer MicroBT including mainly WhatsMiner M66S.
The $290.5 million investment will enable the Colorado-based miner to increase its hashrate by 18H/s, according to a release.
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Riot had already placed an order for 33,280 MicroBT ASICs in June. While these machines will be commissioned in the first quarter of 2024, the new miners are scheduled to start operating in the second half of 2024.
Riot’s hashrate is expected to climb by almost 25 EH/s following the installation of all ASICs. The company estimates that its hash rate will reach 38 EH/s in the second half of 2025.
I am delighted to announce the largest hash rate order in Riot’s history. This purchase order and updated agreement ensure that we will continue to own and operate one of the largest and most efficient Bitcoin mining fleets in the world,” said Riot boss Jason Les.
The Nasdaq-listed mining firm also said it had put an option on 265,000 additional MicroBT miners with the same terms as this latest order.
The entire MicroBT team looks forward to continuing to support Riot’s efforts to become the world’s leading Bitcoin-based infrastructure platform,” proclaimed MicroBT COO Jordan Chen.
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