Are bitcoin miners preparing for the BTC bull run? Riot Platforms is stocking up

The miners prepare. While Bitcoin has just briefly crossed the $42,000 mark, BTC miners appear to be preparing for a potential bull run. Thus, Riot Platforms, an industry giant, has just placed a massive order for mining machines.

Riot Platforms buys thousands of machines

Riot Platforms is a company specialized in Bitcoin mining farm operation. This is particularly established in the United States.

Between August and September, the company saw its production increase by 9% thanks to its power of 12.5 EH/s.

However, she does not intend to stop there. So, on December 4, the company unveiled a agreement with MicroBTthe company responsible for the production of Whatsminer.

In total, the company announced that it had found a purchase agreement for 66,560 Whatsminer. The order consists of 3,724 M56S++, 14,778 M66 and 48,058 M66S, the latest model. This will allow the company to increase its power by an additional 18 EH/s.

Riot Platform order details from MicroBT
List of machines purchased by Riot Platforms.

A year 2024 full of activity

Thus, Riot Platforms is preparing to work harder in 2024. Thus, in the first quarter, a previous order of 33,280 machines will be installed and operational.

Subsequently, in the second part of 2024, the company plans to receive and install the 66,560 machines discussed previously.

Once this installation is completed, the miner estimates that it will reach a mining power of 38 EH/S.

An option to purchase 265,000 machines

While we thought that was enough, Riot Platforms is thinking even bigger. Thus, the company also announced that it has negotiated an option to purchase as many as 265,000 mining machines from MicroBT.

This would add some 75 EH/S of powerbringing the total power of Riot Platforms above 100 EH/S.

“Alongside Riot’s commitment to hash rate growth, we are actively developing the infrastructure at our Corsicana site in line with our long-standing, proven, vertically integrated strategy. Riot is excited to strengthen our relationship with MicroBT and establish our roadmap to reach and exceed 100 EH/s in the years to come. »

However, it is not without obstacles. Indeed, Riot Platforms’ Texas operation was recently targeted by Greenpeace.

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