Riot Platforms, Inc. (NASDAQ: RIOT), a leading player in the Bitcoin mining and data center hosting industry, has made a groundbreaking move by entering into a long-term purchase agreement with MicroBT Electronics Technology Co., LTD . This historic agreement implies the acquisition of 33,280 state-of-the-art Bitcoin miners made in the United States by MicroBT. The deal also includes an option for Riot to purchase an additional 66,560 miners on the same terms.

Upon full deployment in 2024, the initial purchase of 33,280 miners is expected to boost Riot’s self-mining capacity to an impressive 20.1 exhashes per second (EH/s). The order consists of the M56S+ and M56S++ models, renowned for their high hash rates and power efficiency. With a weighted average efficiency of 22.5 joules per terahash (J/TH), these miners are specifically designed for immersion cooling systems, perfectly suited for Riot’s Corsicana facility.

Jason Les, CEO of Riot, expressed his excitement about partnering with MicroBT and acquiring these cutting-edge Bitcoin miners. He highlighted its power and efficiency, specifically designed for immersion cooling systems. He added to them that the new miners would contribute an additional 7.6 EH/s to Riot’s self-mining capacity, further improving the already strong efficiency of the company’s fleet ahead of the upcoming Bitcoin halving.

Beyond the impact on Riot’s mining operations, the collaboration with MicroBT marks a major milestone for the Bitcoin mining industry. By manufacturing miners domestically, Riot and MicroBT are strengthening the US supply chain and providing more choice for domestically produced Bitcoin miners. MicroBT will manufacture these miners in Pittsburgh, PA, creating new job opportunities and contributing to the local economy.

Riot’s expansion plans, along with the confidence shown by MicroBT and other mining companies, highlight the positive outlook for the future of Bitcoin. This news follows Hut 8’s recent announcement to secure $50 million of Coinbase Credit to support growth initiatives and improve financial flexibility. Continued growth and investment in the mining sector demonstrate a strong belief in Bitcoin’s long-term potential.