Bitcoin mining company Riot Platforms has purchased 33,280 mining rigs from MicroBT in a deal worth $162.9 million. The Application-Specific Integrated Circuit (ASIC) order is not due for delivery until December 2023 and deployment is expected to begin in the first quarter of 2024. Riot’s purchase is set to expand its hash rate capacity by 7.6 EH/s to 20.1 EH/s across its facilities and is expected to boost fleet efficiency ahead of the Bitcoin halving event in April 2024.

AI Sentiment: Positive