TechFlow — Riot Platforms, a Bitcoin (BTC) mining and data center hosting company, announced it has exercised a purchase option and updated its long-term equipment purchase agreement with MicroBT (MicroBitcoin Technology Co., Ltd.). In addition to the previously announced order for 33,280 mining rigs, Riot will "receive 66,560 of MicroBT’s latest-generation miners totaling 18 EH/s."
All miners under this order will be "manufactured in the U.S. and specifically designed for immersion cooling." The total consideration for this agreement is $290.5 million (excluding applicable taxes, fees, and adjustments), equating to an average price of approximately $16 per TH across all miners.
Expected procurement timeline:
Q1 2024: Deployment begins for the previously announced order of 33,280 MicroBT miners
Second half of 2024: Delivery and deployment begin for the new order of 66,560 MicroBT miners
Second half of 2025: Completion of miner deployment under all current purchase orders, with Riot's self-mining hashrate capacity exceeding 38 EH/s
