Riot Platforms, Inc. (NASDAQ: RIOT), a frontrunner in Bitcoin mining, recently announced the purchase of 31,500 advanced WhatsMiner M60S miners from MicroBT. This move aims to enhance and expand Riot’s self-mining capabilities at the Rockdale Facility.
Upgrading for Optimal Performance
The acquisition, valued at $97.4 million, introduces a combined hash rate capacity of 5.9 EH/s. Specifically, 14,500 of these miners will boost Riot’s self-mining capacity. Meanwhile, the remaining 17,000 units will replace less efficient machines that are currently operating. Consequently, this strategic update is set to propel the Rockdale Facility’s hash rate capacity to 15.1 EH/s by the end of July 2024.
Moreover, this initiative is part of Riot’s broader vision to reach a hash rate target of 31 EH/s by the close of 2024, factoring in growth at the new Corsicana Facility.
Jason Les, CEO of Riot, expressed enthusiasm about the upgrade. He highlighted the dual benefits of increased hash rate and operational efficiency. “Replacing underperforming miners with the M60S model will enhance our operating uptime and energy efficiency,” Les stated. According to Les, this upgrade reaffirms Riot’s commitment to being a leading low-cost miner.
MicroBT, renowned for its high-performance computing solutions, also expressed excitement about strengthening its partnership with Riot. Jordan Chen, COO of MicroBT, anticipates this collaboration to be a milestone in Riot’s ambitious journey toward building a formidable mining fleet.
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