On February 24, 2024, Riot Platforms, Inc., a Nevada-based Bitcoin mining company, entered into a significant purchase order with MicroBT, a leading Bitcoin miner manufacturer. The agreement, effective as of February 23, 2024, involves the acquisition of 31,500 Bitcoin mining servers, known as Miners, for a total cost of $96,673,500, excluding taxes and fees. This purchase is part of Riot's strategic expansion and is in line with the terms of a master purchase and sale agreement dated June 23, 2023. The new Miners, model M60S, are expected to be delivered in two batches in May and June 2024, and will be deployed at Riot's Rockdale, Texas data center. This deployment is anticipated to increase the facility's hash rate capacity from 12.4 EH/s to 15.1 EH/s by...Show More

On February 24, 2024, Riot Platforms, Inc., a Nevada-based Bitcoin mining company, entered into a significant purchase order with MicroBT, a leading Bitcoin miner manufacturer. The agreement, effective as of February 23, 2024, involves the acquisition of 31,500 Bitcoin mining servers, known as Miners, for a total cost of $96,673,500, excluding taxes and fees. This purchase is part of Riot's strategic expansion and is in line with the terms of a master purchase and sale agreement dated June 23, 2023. The new Miners, model M60S, are expected to be delivered in two batches in May and June 2024, and will be deployed at Riot's Rockdale, Texas data center. This deployment is anticipated to increase the facility's hash rate capacity from 12.4 EH/s to 15.1 EH/s by the end of July 2024. Riot's overall year-end hash rate target for 2024 is now set at 31 EH/s, doubling its 2023 year-end hash rate. The company has already paid 70% of the purchase price as a deposit and will pay the remaining 30% prior to each batch's delivery. Riot Platforms also released a press release and an updated corporate presentation on February 27, 2024, detailing the purchase and its impact on the company's operational and financial projections.