Ahead of the highly-anticipated Bitcoin (BTC) halving event in 2024, Riot Platforms, regarded as one of the world’s largest BTC mining companies, has purchased 33,280 “next-generation” Bitcoin rigs for its Texas facility.

The Bitcoin miners purchased costed Riot nearly $163 million, and they are expected to boost the firm’s self-mining capacity by 7.6 exahashes per second (EH/s). This move is expected to come “in advance” of the next Bitcoin halving cycle set to take place in mid-2024.

According to Riot Platforms CEO Jason Les, the new miners “will contribute an additional 7.6 EH/s to Riot’s self-mining capacity when fully deployed and will further enhance our already strong fleet efficiency in advance of the upcoming Bitcoin halving.” Les has also added that the BTC miners will be designed specifically for “immersion cooling systems.”

The machines are expected to arrive by December and the full deployment of the miners is expected to be completed on time before the next Bitcoin halving cycle. Despite the bright news, the stock price of Riot Platforms (NASDAQ: RIOT) fell 7.2% on June 26 according to Google Finance data.

Sources:

https://cointelegraph.com/news/riot-platforms-add-bitcoin-miners-ahead-of-2024-halving

https://decrypt.co/146308/bitcoin-mining-firm-riot-secures-33000-new-rigs-for-162-million

https://crypto.news/riot-platforms-expands-operations-with-33000-new-miners/

https://www.riotplatforms.com/news-media/press-releases/detail/155/riot-purchases-7-6-ehs-of-next-generation-miners-from?ref=nobsbitcoin.com

https://www.google.com/finance/quote/RIOT:NASDAQ