Bullish Pre-Halving Preparations: $160 Million Investment from Riot Platforms Bitcoin Miner!

• Riot Platforms, one of the largest miners in the world, has ordered 33,280 mining devices from MicroBT ahead of the Bitcoin halving.
• The new devices will contribute an additional 7.6 EH/s to Riot’s total mining power.
• The order includes 8,320 M56S+ devices and 24,960 M56S++ devices, with delivery expected by the end of this year and installation planned for the first quarter of 2024.

Riot Platforms Orders 33,280 Mining Devices Ahead of Bitcoin Halving

Riot Platforms, a leading cryptocurrency mining company, has recently made a significant move to enhance its mining capabilities. The company has announced that it has placed an order for 33,280 mining devices from MicroBT, one of the world’s largest manufacturers of mining equipment. This strategic move comes just ahead of the highly anticipated Bitcoin halving event, which is expected to have a significant impact on the mining industry.

Increase in Mining Power

The order placed by Riot Platforms includes a total of 33,280 mining devices, which will contribute an additional 7.6 EH/s to the company’s total mining power. This substantial increase in mining capabilities will position Riot Platforms as one of the major players in the cryptocurrency mining industry. The new devices are expected to be delivered by the end of this year, with installation and integration planned for the first quarter of 2024.

New and Powerful Mining Devices

The mining devices ordered by Riot Platforms consist of two models: the M56S+ and the M56S++. The order includes 8,320 units of the M56S+ model, which has a hash rate of 220 TH/s, and 24,960 units of the M56S++ model, which has a hash rate of 230 TH/s. MicroBT, the manufacturer of these devices, has emphasized that these models are the most powerful Bitcoin mining devices they have produced to date.

Furthermore, the agreement between Riot Platforms and MicroBT also includes an option to purchase an additional 66,560 units of the M56S++ model. This option provides Riot Platforms with the flexibility to expand its mining capabilities in the future by adding more devices to its fleet.

Preparing for the Bitcoin Halving

The CEO of Riot Platforms, Jason Les, has stated that this substantial order of mining devices is part of the company’s preparations for the upcoming Bitcoin halving. The halving event, which is scheduled to occur in approximately 286 days according to data provided by Nicehash, will reduce the block reward from 6.25 BTC to 3.125 BTC. By increasing its mining power with these new devices, Riot Platforms aims to maintain and enhance its efficiency in the mining process.

Overall, Riot Platforms’ order of 33,280 mining devices from MicroBT marks a significant milestone in the company’s growth and expansion plans. With the Bitcoin halving on the horizon, this strategic move positions Riot Platforms as a key player in the cryptocurrency mining industry, ready to capitalize on the opportunities and challenges that lie ahead.