Texas-based Bitcoin miner Riot Platforms has made a strategic investment of $290.5 million in hardware to ramp up its mining power ahead of the highly anticipated Bitcoin halving event. The company has acquired 66,560 units of BTC miners, representing 18 EH/s, from MicroBT, with options to acquire an additional 265,000 miners. This move aligns with Riot’s goal of achieving a 100 EH/s hash rate capacity. The deployment of the initially purchased miners will take place in the first quarter of next year, while the delivery and deployment of the new purchases will occur in the second half of the same year. Riot expects to complete the deployment of all miners by the second half of 2025, surpassing a hash rate of 38 EH/s. CEO Jason Les expressed confidence in maintaining ownership and operation of one of the world’s most substantial and efficient Bitcoin mining fleets. The news of this purchase, coupled with Bitcoin’s rally past $41,000, has led to a nearly 6% increase in Riot’s stocks.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	very positive
Relevance Score	1
People	Jason Les
Companies	MicroBT, Nasdaq, Riot Platforms
Currencies	Bitcoin
Securities	None