Riot Platforms has acquired 33,280 Bitcoin miners from MicroBT for $162.9 million ahead of the halving event in 2024. The deployment of the miners is expected to be completed by mid-2024, increasing Riot’s self-mining hash rate capacity to 20.1 EH/s. The expansion is a strategic move for the mining profitability as it offsets the effects of the halving, ensuring continued profitability and operational efficiency. Riot Platforms looks to solidify its role in validating transactions and contributing to the overall security and efficiency of the Bitcoin network.
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