It adds to a prior agreement in which Riot bought 33,280 miners from MicroBT.
The term sheet was also updated, allowing Riot to buy another 265,000 miners in the future.
Bitcoin miner Riot Platforms is buying 66,560 Bitcoin mining rigs from manufacturer MicroBT,
in one of its largest orders of hash-rate in the firm’s history — ahead of the Bitcoin halving scheduled for April 2024.
The additional purchase agreement totaled $290.5 million, Riot stated in a Dec. 4 statement — meaning it paid an average of $4,360 for each machine.
The right-to-purchase option was included in Riot’s initial agreement with MicroBT when it agreed to
buy 33,280 machines from MicroBT in June. The two firms have now updated this agreement to provide
Riot with options to purchase up to 265,000 additional miners from MicroBT on the same terms as the new order.
Riot’s CEO Jason Les said the purchase order is “the largest order of hash rate” in the company’s
history and hopes the updated agreement will enable Riot’s mining performance to strengthen further.
Over 48,000 or 72% of the new machines will be MicroBT’s latest model, the M66S, which has a hash
rate of 250 terahashes per second (TH/s), while the remaining machines will consist of the M66 (14,770) and M56S++ (3,720) models, Riot noted.
Altogether, the 66,560 miners will add 18 exahashes per second (EH/s) to Riot’s operations.