Riot Platforms—one of the largest Bitcoin mining companies in the world—is set to boost its hashrate capacity to new heights after purchasing 33,280 mining rigs from MicroBT, a leading manufacturer of the machines needed to mine new coins. 

The Application-Specific Integrated Circuit (ASIC) order adds up to $162.9 million, making it a standout purchase even among a slew of similar investments from competing firms this year. The machines themselves, however, aren’t scheduled for delivery until December 2023, and won’t be deployed until the first quarter of 2024. 

“Riot is excited to announce our first order of Bitcoin miners for our Corsicana Facility from MicroBT,” said Jason Les, CEO of Riot, in a press release. “These new models are among the most powerful and efficient miners ever made for Bitcoin mining and are designed and produced specifically for immersion cooling systems.”

Corsicana, Texas is a business-friendly community located just 50 miles southeast of downtown Dallas on Interstate 45.

The ASIC models purchased by Riot include the M56S+ and M56S++, the latter of which was released in late April. It boasts a power efficiency of 22 joules per terahash (J/TH), and a maximum hashrate of 230 terahashes per second (TH/s).

A “hash” is an attempt to answer the complex mathematical problems miners must solve to construct a new Bitcoin block. Mining machines consume energy generating as many guesses as possible to be the first to solve the problem and to mine the ne

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Author: Andrew Throuvalas

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