Riot Platforms, one of the global leaders in Bitcoin BTC mining, priced at $30,506, is preparing to fortify its mining capabilities with the purchase of 33,280 next-generation Bitcoin miners. This addition, costing $162.9 million, is earmarked for its Texas facility and is expected to provide a significant boost ahead of Bitcoin’s next halving cycle projected for mid-2024.

The state-of-the-art rigs, acquired from renowned mining manufacturer MicroBT, are set to increase Riot’s self-mining capacity by 7.6 exahashes per second (EH/s). However, these machines will not be installed until the first quarter of 2024.

On June 26, Riot Platforms CEO Jason Les announced that this strategic acquisition is poised to augment the firm’s self-mining capacity to 20.1 EH/s once the machinery is in place:

“Upon full deployment, these newly-acquired miners will amplify Riot’s self-mining capacity by an additional 7.6 EH/s. This will further fortify our fleet efficiency ahead of the impending Bitcoin halving event.”

Les also pointed out that the rigs were specifically built to support “immersion cooling systems,” mirroring those employed at the company’s Corsicana facility.

Of the total 33,280 machines, 8,320 are M56S+ models with a hash rate of 220 terahashes per second (TH/s), while the remaining 24,960 are M56S++ models, boasting a slightly superior capacity at 230 TH/s. However, these machines won’t be delivered until December, with full deployment not expected until mid-2024.

Riot Platforms has also signaled a potential purchase of an additional 66,560 M56S++ models before the end of 2024. This could introduce a further 15.3 EH/s to the firm’s self-mining capacity, should the company decide to execute this option partially or fully.

Regardless of the optimistic forecast, Riot’s share price dropped by 7.2% to $10.77 on June 26, as reported by Google Finance.

In related news, on June 21, Bitcoin miner Akron Energy publicized its acquisition of a 200-megawatt (MW) mining facility in Hannibal, Ohio, marking its first expansion into the United States following a $26 million fundraise on June 20. The Sydney-based firm is planning to swiftly finalize the initial design stage of the Hannibal facility, aiming to provide 100 MW of power to serve the firm’s institutional-scale clients in the Bitcoin industry.