Riot Platforms, a major player in the Bitcoin mining industry, has invested $162.9m to acquire a vast fleet of state-of-the-art Bitcoin miners from manufacturer MicroBT, aiming to significantly increase its self-mining capacity. The new machines are expected to be compatible with immersion cooling systems, and the deployment of all 33,280 machines is due to be completed by Q1 2024. The company has also secured an option to purchase an additional 66,560 machines by 31 December 2024. The move by Riot Platforms is seen as a strategic investment that aims to solidify its position as a leading force in the competitive Bitcoin mining landscape.
AI Sentiment: Positive