CryptoMediaClub
Wednesday, July 9, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

Riot Platforms Buys 33,280 Mining Gears for Whopping $162.9M

27.06.2023
A A
0
125
VIEWS
ShareShare

Riot Platforms Buys 33,280 Mining Gears for Whopping $162.9M

Riot Platforms Buys 33,280 Mining Gears for Whopping $162.9M

  • The purchase of the mining rigs is well ahead of Bitcoin’s next halving cycle.
  • Unfortunately, the equipment isn’t scheduled to arrive until December.

One of the prominent Bitcoin mining businesses, Riot Platforms, has spent $162.9M on 33,280 “next-generation” Bitcoin miners for its Texas data center.

The purchase of the mining rigs from supplier MicroBT is well ahead of Bitcoin’s next halving cycle, which is expected to occur around the middle of 2024. The new addition will increase the company’s self-mining capacity by 7.6 exahashes per second (EH/s).

On June 26th, Riot Platforms CEO Jason Les said that after the machines are implemented in the first quarter of 2024, the company’s self-mining capability would climb to 20.1 EH/s. Les included the gear it constructed for “immersion cooling systems,” like those used at the firm’s Corsicana site.

Delivery Scheduled for December

The M56S+ machines account for 8,320 of the total, boasting a hash rate of 220 terahashes per second (TH/s), while the M56S++ devices account for the remaining 24,960, boasting a slightly higher rate of 230 TH/s.

Unfortunately, the equipment isn’t scheduled to arrive until December, and the entire rollout of the miners isn’t expected to be finished until the middle of 2024.

Riot has indicated that it may also acquire 66,560 M56S++ models by December 31, 2024, increasing the company’s self-mining capacity by 15.3 EH/s. The business has the choice to make use of this provision in its whole or in part.

On the other hand, Hut 8, a crypto miner, recently announced that it has obtained a $50 million credit facility from Coinbase Credit. In a statement, the North American crypto miner said that it will use the loan proceeds for “general corporate purposes.” As a result, it has more financial flexibility and improved control over its Bitcoin holdings.

Highlighted Crypto Trading Today:

Fidelity Investments Reportedly Filing for Spot Bitcoin ETF Soon

Share10Tweet6ShareSharePin2

Related Posts

Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost
Bitcoin

Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

08.07.2025
0

BitcoinWorldBitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost In a significant move that underscores the growing confidence...

Read moreDetails
Bitcoin ETFs Soar: US Spot Funds Witness Astonishing $216M Inflows

Bitcoin ETFs Soar: US Spot Funds Witness Astonishing $216M Inflows

08.07.2025
DDC Enterprise’s Bold Bitcoin Move: Boosting Holdings to 368 BTC Signals Strategic Shift

DDC Enterprise’s Bold Bitcoin Move: Boosting Holdings to 368 BTC Signals Strategic Shift

07.07.2025
Canaan’s Astounding 1,484 BTC Holdings: A Bitcoin Mining Powerhouse Emerges

Canaan’s Astounding 1,484 BTC Holdings: A Bitcoin Mining Powerhouse Emerges

07.07.2025
Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

07.07.2025
Load More
Next Post
Shiba Inu Joins Hong Kong’s Virtual Asset Index: A Memecoin Milestone Unleashed

Shiba Inu Joins Hong Kong’s Virtual Asset Index: A Memecoin Milestone Unleashed

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Taiwan bans unregistered foreign crypto exchanges from operating

Taiwan bans unregistered foreign crypto exchanges from operating

2 years ago
Near Foundation CEO Marieke Flement resigns

Near Foundation CEO Marieke Flement resigns

2 years ago
Ethereum Struggles to Gain Momentum as “Pepe” Blockchain Secures $18.3M – Is a Rival Emerging?

Ethereum Struggles to Gain Momentum as “Pepe” Blockchain Secures $18.3M – Is a Rival Emerging?

9 months ago
Bitcoin Surge Propels DeFi TVL Past $100 Billion Milestone

Bitcoin Surge Propels DeFi TVL Past $100 Billion Milestone

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Truth Social Files for Blue-Chip Crypto ETF Including BTC, ETH, XRP, and SOL

[LIVE] Crypto News Today: Latest Updates for July 9, 2025 – Nasdaq-Listed GameSquare Announces $100M ETH Treasury Strategy

Shiba Inu Price Prediction: SHIB Launches Counter-Offensive Against Solana Rivals – New Meme Coin Trend Starting?

Survey finds gaps in mainstream Bitcoin coverage, leaving institutional investors exposed

Russian Embassy Demands US State Dept. Provide Updates on WEX CEO Dmitry Vasiliev

Stablecoin issuers’ $182 billion US Treasury hoard ranks 17th among countries, beating UAE and South Korea

Trending

Revolut Launches Instant Money Transfers to China
All news

Revolut Launches Instant Money Transfers to China

09.07.2025
0

Revolut launched an instant money transfer service to mainland China via the Alipay payment system, allowing users...

New Zealand Bans Crypto ATMs, Sets $5K Cap on Transfers in Major AML Crackdown

New Zealand Bans Crypto ATMs, Sets $5K Cap on Transfers in Major AML Crackdown

09.07.2025
Coinbase Drops $5 Million Bug Bounty on Cantina for Base and Smart Contract Security

Coinbase Drops $5 Million Bug Bounty on Cantina for Base and Smart Contract Security

09.07.2025
Truth Social Files for Blue-Chip Crypto ETF Including BTC, ETH, XRP, and SOL

Truth Social Files for Blue-Chip Crypto ETF Including BTC, ETH, XRP, and SOL

09.07.2025
[LIVE] Crypto News Today: Latest Updates for July 9, 2025 – Nasdaq-Listed GameSquare Announces $100M ETH Treasury Strategy

[LIVE] Crypto News Today: Latest Updates for July 9, 2025 – Nasdaq-Listed GameSquare Announces $100M ETH Treasury Strategy

09.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz