Riot Blockchain, RIOT, one of the leading Bitcoin mining companies, just brokered a mega deal with Micro BT Electronics and will buy 66,560 Bitcoin miners from Micro BT Electronics.
With this deal, Riot Blockchain significantly expands its mining business. Such a huge number of mining equipment comes with a price tag: of $290,5 million.
The cutting-edge M66S models will secure 18EH/s of Bitcoin mining power! Additional purchase options will allow RIOT to own more than 100 EH/s in mining power!
2024: the year of Bitcoin expansion! ECB, ETFs!
With the expansion of their capacity, scheduled for the second half of 2024, they aim to meet the ever-growing demand for Bitcoin, especially in the current landscape where Bitcoin is being recognized by the ECB as a legal savings vehicle, and the SEC will have no choice but to approve more than 10 Bitcoin ETFs.
Blackrock, the world's largest asset management firm does own a huge chunk of RIOT-shares, which makes sense: they'll be able to mine the assets they intend to offer in their Spot Bitcoin ETF. The expansion of Riot Blockchain makes perfect sense, as the big money is prepping for a tumultuous 2024-2025. I even expect that this will be the last bull run, after which the sector will become